The_Competition_Policy_Of_The_European_Union

The Competition Policy Of The European Union The Competition Policy of the European Union As part of the European Union, member states adopt an economic policy gconducted in accordance with the principle of an open market economy with free competition.h The EUfs competition policy objectifies the determination of effective competition with respect to a erelevant market.f Competition is a basic device of the market economy involving supply (producers) and demand (consumers). Goods or services are offered by suppliers in an attempt to meet demand. Demand seeks the best ratio between quality and price that consumers will purchase. The response to the supply and demand brings about a challenge between suppliers. Competition leads individuals to seek out the means of striking a balance between quality and price in order to meet the demand to its fullest extent. This efficiency means guaranteeing consumers a level of satisfaction in terms of price and quality for goods and services demanded. Competition forces firms to be competitive and attempt economic efficiency. This consolidates the EUfs industrial and commercial foundation so it is able handle the competitiveness of their key members and to put EU firms in a position to succeed in other world markets. Competition assumes that the market is made of suppliers eu, competition, commission, market, policy, aid, firms, european, member, firm, position, mergers, dominant, states, state, competitive, common, between, treaty, one, international, governments, economic, demand, abuse, within, suppliers, regulating, promote, policies, perfect, must, monopolistic, markets, however