Langues appliquées - Anglais : Economie, gestion, droit, AES - 4e - 214

law

ee DEFINITIONS eee
R competition law rules that are intended to protect the process of competition in order to
maximise consumer welfare
R competition rivalry between two or more business enterprises to secure a market share or
to win new markets at each other's expense; business rivalry
R consumer welfare the benefits a buyer derives from the consumption of goods and services
R competitive markets markets in which a large numbers of producers compete with each
other to satisfy the wants and needs of a large number of consumers
R market power the amount of influence that a firm has on an industry or the ability of a firm
to profitably raise the market price of a good or service over marginal cost
R output the quantity of goods or services produced over a given time period by a firm or
industry
R competition issues matters that are of interest to competition law enforcement agencies
R cartelisation the setting up of a business cartel by a group of competing firms
R predatory pricing a (deliberate) strategy, usually by a dominant firm, which consists in
driving competitors out of the market by setting prices below production costs
R discrimination treating a business entity less favourably on account of any given criterion
R mergers combinations of the assets of two or more companies in order to form a new business
entity; amalgamations
R input resources such as people, raw materials, energy, information, or finance that are put
into a system to obtain a desired output
R anti-competitive agreement an agreement that violates competition law
R cartel an organization created from a formal agreement between a group of competing firms
to regulate supply so as to manipulate prices with the objective of limiting or eliminating
competition
R fix prices to collude with business competitors to set prices to buy or sell goods or services
R horizontal agreements agreements between competing businesses operating in the same
economic sphere in which information on pricing, technology and products is shared
R put out for competitive tender to ask people to state formally how much they would charge
for providing goods or services with the intention of retaining the best offer
R rig bids to collude with competitors in a tender process to artificially raise the price put
forward to the potential customer
R cover pricing illegal activity engaged in by one or more bidders in a tender process to
arrange for an artificially high price to be put forward
R bidder person or organisation that responds to an invitation to put forward an offer to buy an
asset from a seller
R disqualified deprived of the right to exercise one's profession
R company directorship position of being the director of a company
R custodial sentence a period of imprisonment given as a judicial sanction
R fined ordered to pay a sum of money to the state in punishment for illegal activity or behaviour
R turnover the total amount of money received by a business in a specified period before any
deductions are made for costs, raw materials or taxation; sales revenue, sales turnover
R vertical agreements arrangements entered into between two or more undertakings operating
at different levels of the production or distribution chain, which relate to the conditions
whereby the parties may purchase, sell or resell certain goods or services
R supplier individual or company offering goods or services; provider
Table des matières de la publication Langues appliquées - Anglais : Economie, gestion, droit, AES - 4e
