MANAGEMENT

Detailed explanation-1: -Australia has strong competitive advantages in its skills, research base, political and legal institutions and high standards of living. Technological innovation can enable the opportunities from these strengths to be harnessed. Productivity is a key driver of prosperity, economic growth and living standards.

Detailed explanation-2: -Competition makes our economy work. By enforcing antitrust laws, the Federal trade Commission helps to ensure that our markets are open and free.

Detailed explanation-3: -The ACCC promotes competition and fair trade in markets to benefit consumers, businesses, and the community. We also regulate national infrastructure services.

Detailed explanation-4: -The Competition and Consumer Act 2010 bans business behaviours that damage competition. It is illegal for businesses to collude in a cartel or to impose minimum resale prices. A range of other behaviours break the law if they substantially lessen competition.