Competition means that businesses are under constant pressure to be better than their competitors, in order to win customers. Competition acts as a driver for innovation and technological progress, and this improves consumer welfare. Therefore, the interests of consumers are at the heart of competition policy.
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In a competitive market, each firm tries to be “optimal” and attract consumers through lower prices and improve the quality of its products or services. With the help of consumers, authorities such as the European Commission can take more effective action to prevent or prohibit anti-competitive practices sometimes observed on the market. Competition law in the theoretical model in a society sellers produce homogeneous products and all relevant consumers are fully informed before buying a product. Some objectives of competition law is
In EU accession include the Utmost importance of competition law â€“ harmonization ,Stabilization and association agreement, Importance of implementation, Practice, Administrative capacity, Application of European law before accession Art 74 Croatian Competition act. EU competition law are includes Arts 101-106. Article 101 (ex Article 81 TEC): In this article prohibits what follows as not compromised. Substantially prevent any movement or decision of undertakings which may affect, restrict and restrain trade between countries negatively. Article 102 TFEU provides: Any operation undertakings of a dominant position into the internal market or in one of the significant part of it must be forbidden as Non-compromised energy to the internal market in so far as it may influence commerce between States. Such abuse may, in especially, consist in:
Network effect: Microsoft (2007): EU Competition defines that â€œIn industries exhibiting strong network effects, consumer demand depends critically on expectations about future purchases. If consumers expect a firm with a strong reputation in the current (product) generation to succeed in the next generation,
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