1. What is the main purpose of competition law?

A. To protect consumers    
B. To intervene in the economy
C. To remedy situations in which the free market breaks down
D. None of the above

2. What is generally accepted as the starting point of modern competition law?

A. The Constitution of Zeno 483
B. The US Sherman Act 1890
C. The Treaty of Rome 1957
D. None of the above

3. Competition law is very closely related to industrial economics, which is:

A. A branch of economics which aims to accelerate growth rate and increase productivity    
B. A branch of macro-economics, since it affects the entire economy
C. A branch of economics that applies micro-economic tools to wider market situations
D. None of the above

4. The SSNIP Test is useful when defining the relevant market. What does SSNIP stand for?

A. Substantial and Significant New Incremental Periods    
B. Sequence of Small but Noticeable Intervals of Power
C. Small but Significant Non-Transitory Increase in Price
D. None of the above

5. Which country did the SNIP test originated from?

A. USA
B. UK
C. Finland
D. None of the above

Answers:      1 (B), 2 (B), 3 (C), 4 (A), 5 (A)

More Practice Test at:

https://www.vskills.in/practice/quiz/Competition-Law

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