g) refers to explicit or implicit arrangements'by'firms selling identical or, ,similar products in the same market through strateg ies such as price fixing, output restraints, bid rig ging, 'Clnd division of markets amongst themselves in order to curtair inter-firm competition. Horizontal Agreements: h) means arrangements between firms at different levels of the market structure aimed at establishing the price levels '' such as the minimum or maximum resale price at which their goods and services should be sold. Vertical Agreements: ,i) . j) ' means the relevant market which may be determined by the Competition u hority with reference to the relevant product market or the relevant geographic market 'or with reference to both markets; Market: . ' . . . . Merger Control: refers to aCtion or measures aimed at preventing the' creation of.undertakings that have the incentive and ability to result in ' , dominant power in the market through acquisitions or .. other structural combinations. k) means the conduct and practice of a firm with a dominant position of at least 40% or more, market share and significantly larger than that of its bigge t rival to maintain, enhance or exploit their dominant'power in the market place. I) Oligopoly: refers to a state of limited competition between a small number of producers or sellers. m) refers to a form of abuse of dominance, which consists of selling a product or service in a given market at a price below the average cost with the aim of eliminating smaller. competitors. Monopolisation: Pred atory PricinQ: ' 4.0 THE NEEO FOR THE POLICY 4.1 Competition Policy is necessary because it provides, through competitive markets, the best means of ensuring that the economy's resources are put 'to their best use by encouraging enterprise efficiency and wid nJng choice. It is also necessary because where markets work well, they provide strong incentives for good performance, thus, encouraging firms to improve productivity, reduce prices and innovate whilst rewarding consumers with lower prices, and a wider choice of high quality goods and services. 4 . == _ _ == = ============-=_= = : _==..::..: .:: _ :==:.. == .::== _ _ _ == I -: == _ -== == Ii::__ :: .::. =