Accc Case

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i) 'About the ACCC' (ACCC 2018) ‘The Australian Competition and Consumer Commission is an independent statutory authority whose role is to enforce laws regarding the Competition and Consumer Act of 2010’. The ACCC is responsible for two main areas, the first being to maintain and promote economically efficient competition. This means they are responsible for ensuring that the allocation of resources is coherent, and that rules are being followed. The second area is to protect the interests and safety of consumers, which indicates that they are there to support fair trading in markets, and to ensure the competition is not falsifying its marketing position to confuse customers. Furthermore, they act as a protection for consumers if they feel they have not been met with appropriate standards. …show more content…
Therefore, the ACCC was concerned that Westfarmers would take over Coles and further put a stronghold on the its market by expanding into the food industry. With Westfarmers success in its initial industry, the ACCC was facing the prospect of reducing competition for surrounding competitors in the food industry. If there was to be reduced competition as discussed above, it is not within the public’s interest. It may certainly be for businesses, as market share increases, a bigger customer base, and a higher demand for products and services. Furthermore, it means the business can lift its prices due to a competitor not forcing the price down, and markets are not flooded when there is limited competition. From the public’s viewpoint, limited competition means limited stores to visit, forced to purchase products/services at higher prices as there are no close

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