Question

As a result of globalization and new information and communications technology, would you expect that the definition of markets used by antitust authorities will become broader or narrower?

Answer 1

Globalization refers to integration of the world through international trade , better communication , foreign investments etc . We can expect that the definition of markets will become broader in this case . Since the markets will become competitive now . There will be competition from foreign markets also . Now the primary work of antitrust authorities is to ensure fair competition for benefits of consumers and to regulate business corporations . So this increasing competition in global scale will ensure reduction of monopoly . New information and communication technology will provide opportunity for other business corporations to prosper and compete in the market .