DOI link for Competition policy
Competition policy book
Free market competition provides everyone with the widest opportunities for business and produces the best allocation of resources. By so doing, competition improves efficiency in the use of factors of production. That conclusion has been accepted by the neo-classical economic theory as a truth. It has provided the intellectual backing for competition (anti-trust) policy. Therefore, the EU has its own rules for market behaviour. They refer to the restriction of competition, abuse of the dominant position and state aids. The importance of competition policy was enhanced by the Single Market Programme completed in 1992.