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No business operates in a legal vacuum. The political and legal environment shapes what businesses can and cannot do, how they compete, how they treat employees and how they interact with the natural environment. Understanding these influences is essential for analysing the strategic position of a business, as required by AQA specification topic 3.7.4.
Competition law exists to prevent anti-competitive behaviour and to protect consumers from the abuse of market power. In the UK, competition policy is enforced by the Competition and Markets Authority (CMA).
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