What is competition law 

 A regulation to conduct the businesses operating in a market to allow for optimum

levels of competition. The main goal is to increase consumer welfare manifested by
1. Wider choices
2. Lower prices
3. Higher quality goods
4. Increased investment by businesses
5. More effective production methods

Why is competition law important

 The rules, regulations and policies are for to apply to a company to make sure that
businesses and companies compete reasonably with each other.
 This also encourages enterprises with efficiency and provides a broader choice for
consumers and helps in reducing prices and improves quality.
 
1. Low prices for all
To gain a high market, companies provide with a better process to consumers. This in turn
not only helps the consumer but also people can afford to buy more products which
encourage businesses to produce and boosts the economy in general
2. Better quality
The competition also encourages the companies to produce goods with better quality to
attract the customer and expand the market share. 
3. More choice
In a competitive market, companies will try to produce products with more options. This
results in a more excellent choice where the customer will be able to buy with more
opportunities.
4. Innovation
To deliver better choice, produce better products, businesses methods also need to be
inventive in the product and services.