FIRSTRAND BANK, WESBANK AND TFS REFERRED TO COMPETITION TRIBUNAL FOR COLLUSION JOHANNESBURG - The Competition Commission said that it had referred FirstRand Bank, WesBank and Toyota Financial Services (TFS) South Africa to the Competition Tribunal for collusion. An investigation by the commission has found that WesBank and TFS agreed to divide markets by allocating customers or suppliers in the market for provision of vehicle finance, which is anti-competitive behaviour. The companies also agreed to stop WesBank from offering financing for some Toyota models for people who wanted to buy them from authorised Toyota dealerships. The actions above taken by the Competition Commission… a) …are an example of government failure aimed at ensuring market failure. b) …are an example of market failure aimed at ensuring an efficient allocation of resources. c) …are an example of government intervention aimed at an efficient allocation of resources. d) …are an example of government intervention aimed at reducing market failure. The decision taken by the Competition Commission, is aimed at ensuring which of the following views of an economy? a) Marxist economics b) Socialist economics c) Keynesian economics d) Free market economics
FIRSTRAND BANK, WESBANK AND TFS REFERRED TO COMPETITION TRIBUNAL
FOR COLLUSION
JOHANNESBURG - The Competition Commission said that it had referred FirstRand Bank, WesBank and
Toyota Financial Services (TFS) South Africa to the Competition Tribunal for collusion.
An investigation by the commission has found that WesBank and TFS agreed to divide markets by allocating
customers or suppliers in the market for provision of vehicle finance, which is anti-competitive behaviour.
The companies also agreed to stop WesBank from offering financing for some Toyota models for people who
wanted to buy them from authorised Toyota dealerships.
The actions above taken by the Competition Commission…
a) …are an example of government failure aimed at ensuring market failure.
b) …are an example of market failure aimed at ensuring an efficient allocation of resources.
c) …are an example of government intervention aimed at an efficient allocation of resources.
d) …are an example of government intervention aimed at reducing market failure.
The decision taken by the Competition Commission, is aimed at ensuring which of the following views of an
economy?
a) Marxist economics
b) Socialist economics
c) Keynesian economics
d) Free market economics
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
