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p. 5 of 62 BACK | NEXT Purpose and Structure of the Toolkit Overview of Practices Controlled by Competition Law Countries with Competition Law Systems Benefits of Competition Policy Summary of Typical Benefits of Competition Benefits of Competition Disadvantages of Monopoly Practices Controlled by Competition Law Key Concepts and Tools Competition, Privatization, and Regulation Emerging Economies Enforcement Mechanisms ADB Resources and Projects Other Resources Glossary and List of Abbreviations

Competition Law Toolkit : Benefits of Competition Policy

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Summary of Typical Benefits of Competition

• Competition promotes allocative and productive efficiency.
• Competition leads to lower prices for consumers.
• Competition means that firms will be innovative in order to win business: innovation and dynamic efficiency mean that there will be better products available on the market.
• Where there is effective competition, consumers have a choice as to the products that they buy.

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