restrictive practice

Restrictive practices in business refer to actions that prevent fair competition. This can include price-fixing or creating monopolies. Competition policy, also known as antitrust policy in the United States, aims to ensure that markets remain competitive, fostering investment, innovation, and economic growth.12

Key areas addressed by competition policy include:
* Restrictive Practices: Actions like competitors colluding to fix prices are generally prohibited.2
* Monopolies: Policy focuses on the abuse of a monopoly position rather than its mere existence.2
* Mergers: The regulation of mergers is crucial to prevent substantial reductions in competition.3

Laws like the Sherman Antitrust Act in the U.S. and provisions in the Treaty of Rome in Europe aim to prevent such anti-competitive behaviors.13