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The global marketplace is constantly faced with this threat of tremendous price war and competition. In this tug-of-price war between large enterprises, does the consumer stand to win in the long race? The answer may seem an emphatic “YES” but the situation is tricky and so is the answer to the question. Tricky because it is a double-edged sword, given monopolistic pricing, restrictive choices and laws of competition. The significance of free market economy and the need for a fair fight in the marketplace are needed to be viewed in the light of antitrust laws, consumer protection, and monopolistic market dynamics. Why do we need antitrust laws? Does it protect individuals? How do businesses benefit?
The module explains the need for rules and fairness in society and critically analyzes business situations.