Which of these has been set up by the government to promote competition amongst producers, protect the interests of consumers, and ensure freedom of trade in the market?

Foreign Exchange Management Act

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Companies Act

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Competition Commission of India

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Foreign Exchange Regulatory Act

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Competition Commission of India
To prevent a monopoly of large-scale industries, the government established the Competition Commission of India. The commission promotes competition amongst producers, protects the interests of consumers, and ensures freedom of trade in the market.

Suggest Corrections

Similar questions

Q. In India, several consumer organisations and non-governmental organisations (NGOs) have been set up for the protection and promotion of consumers' ________.

Q24. Consider the following statements:

1. The Competition Act, 2002 prohibits anti-competitive agreements, abuse of dominant position by enterprises and regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to cause an appreciable adverse effect on competition within India.

2. The objectives of the Act are sought to be achieved through the Competition Commission of India (CCI).

3. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India.

Which of the above statements are correct?

Which Act related to promoting and sustaining competition in the market has replaced the Monopolies and Restrictive Trade Practices Act, 1969?

Q. Name any two Non-governmental Organisations (NGOs) which are working in India to protect and promote the consumer interests?

___ seeks to protect and promote the interests of consumers.

Join BYJU'S Learning Program