How does competition benefit society?
Competition is beneficial to the country's economy
By competing with each other, companies become more competitive, innovative, and efficient, based on merit. This market dynamic makes the economy grow, creating jobs and well-being for society.
Competition ensures better prices
The competitive dynamics promote competitiveness and the efficiency of companies ensuring better prices. When companies create cartels or get involved in other anticompetitive practices, the exact opposite happens — costs rise and consumers are harmed.
Competition favours consumers
Competition between companies translates into a greater quantity of products and services, a better quality of goods, and lower prices. In the end, this is what the consumer is looking for — the best quality at the best possible price.
Competition is beneficial for companies
Competition policy promotes equitable conditions in the market, and as such, business success is based on merit. To win, companies become more competitive and solid.
Competition favours the creation of companies
In a market governed by openness and equity, everyone has the same opportunities. Competition promotes freedom of initiative, the right of anyone to create a business and enter the market. Therefore, the Competition Law prohibits and the Competition Authority sanctions the abuse of a dominant position.
Competition promotes innovation
To provide the best product or service available to consumers, companies bet on differentiation. They invest in design, improve production techniques, and are committed to worker training. And see innovation as a way to distinguish themselves in a competitive market.
Competition promotes exports
Internal competition stimulates and increases the capacity of a company to position itself in the international market.
Raising awareness of the benefits of competition
The AdC promotes the benefits and rules of competition among public entities, different professional sectors, academics, the media, and consumers.
