protection from unfair competition

• What is the main issue addressed in the study material regarding competition?

  Protection from unfair competition
• Why can producers in different countries produce at different prices?

  Because different rules apply across the world
• What challenges do domestic producers face when competing with firms that have low labor costs?

  They may be unable to compete due to lower prices
• What factors can lead to a firm having very low costs?

  Low labor costs or low health and safety costs due to regulation
• What is one reason a firm might have very low costs?

  Being heavily subsidized by the government
• What is a common argument regarding government intervention in competition?

  That the government should protect domestic producers