ABSTRACT
Competition between producers of homogeneous commodities in price is perhaps the aspect of the competitive process most commonly referred to in economic textbooks. Price competition of this kind is important, of course, and must be closely analysed in any study of the competitive process. On the other hand, there are many other important facets of the competitive process which are not readily recognized by many textbook writers, but which require the attention of any body inquiring into the economic implications of market dominance. This chapter provides a brief analysis of the forces comprising the competitive process, in the light of the inquiries of the Monopolies Commission into the affairs of trade associations.
