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Chapter 11: Q. 4 (page 271)

As a result of globalization and new information and communications technology, would you expect that the definitions of markets that antitrust authorities use will become broader or narrower?

Short Answer

Expert verified

Broader.

Step by step solution

01

Step1. Concept of Globalization

Globalization refers to the increased interaction and integration of trade, labor, capital, investment, technology, etc across the borders and cultures around the globe.

02

Step2. Explanation

Antitrust laws and regulations aim at reducing the market power being concentrated in hands of one or few large firms, i.e. they encourage free market competition. But globalization essentially indicates opening up of countries' borders to a free trade, implying zero to little restrictions.

Hence, in the era of globalization and new information and communications technology, the definition of market as used by antitrust authorities can be expected to become broader.

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