Term:COMPETITION

The capitalist economic system is based on competition. Manufacturers produce a product which they perceive to be in demand and they compete with each other on quality, price and service. This competition ensures a constant supply of alternatives for consumers at the best possible price. Most capitalist economies have anti-trust legislation to break up monopolies and ensure competition. South Africa is no exception. Our Competition Commission is constantly on the lookout for collusive pricing, and other anti-competitive practices.

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