GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Australian Competition & Consumer Commission
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Australian Consumer & Competition Contracters
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Asia Competition & Consumer Commission
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None of the above
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Detailed explanation-1: -The Australian Competition and Consumer Commission (ACCC) is an independent Commonwealth statutory authority. Its role is to enforce the Competition and Consumer Act 2010 and a range of additional legislation, promoting competition, fair trading and regulating national infrastructure for the benefit of all Australians.
Detailed explanation-2: -Australian Competition and Consumer Commission | ACCC. Buying products and services. Buying online. Consumer rights and guarantees. Contracts.
Detailed explanation-3: -The Competition and Consumer Act 2010 (CCA) covers most areas of the market: the relationships between suppliers, wholesalers, retailers, and consumers. Its purpose is to enhance the welfare of Australians by promoting fair trading and competition, and through the provision of consumer protections.
Detailed explanation-4: -Passed in 1974, the Trade Practices Act 1974, brought in new competition and consumer protection laws and created the ACCC’s predecessor, the Trade Practices Commission. Following reforms agreed to by the Council of Australian Governments (COAG), the ACCC was established on 6 November 1995.