_____ determines the institutional mix of competition and cooperation that gives rise to the market system and also seeks to balance efficiency and fairness.
A) Competition policy
B) Antitrust policy
C) Mutual forbearance
D) Fairness policy

Question

_____ determines the institutional mix of competition and cooperation that gives rise to the market system and also seeks to balance efficiency and fairness.
A) Competition policy 
B) Antitrust policy 
C) Mutual forbearance 
D) Fairness policy

Quizplus · Accepted Answer

The institutional mix of competition and cooperation that gives rise to the market system is determined by competition policy. This policy aims to promote competition in markets and prevent anti-competitive practices by firms. It seeks to balance efficiency (through increased competition and innovation) and fairness (by ensuring a level playing field). Antitrust policy is a subset of competition policy that focuses on preventing monopolies and promoting competition. Mutual forbearance refers to the informal cooperation among firms in an industry that may reduce competition, while fairness policy is not a recognized policy term in economics.

_____ Determines the Institutional Mix of Competition and Cooperation That