Commerce Essay

654 Words3 Pages
The Australian Competition and Consumer Commission (ACCC) are an organisation that protect and reinforce the way that Australian markets and industries work. Also they help in the improvement of the economy and also to increase the benefits of Australian consumers. In 1995, the Australian Competition and Consumer Commission was formed to ensure there is no misconduct against any of Commonwealth's competition, fair trading and consumer protection laws .They take action when it comes to the proper functioning of Australian markets. The ACCC’s role is to enforce three main acts which include; The Competition and Consumer Act 2010, The Prices Surveillance Act 1983(C’wlth) and The Fair Trading Act 1987 (NSW). Other roles include supporting consumer education for indigenous communities in rural places. These goals show the ACCC’s main priorities: * Maintenance of competition and fix market failure * Protects the safety of consumers * Supports fair trading in the market * Engages with groups that have been affected by what they do. The Competition and Consumer Act 2010 (C’wlth ) previously known as The Trade Practices Act 1974 is a legislation that covers most areas of marketing. These include the relationship between suppliers, retailers, consumers and wholesalers. The purpose of this act is to strengthen the welfare of Australians which is done through the promotion of fair trading. They also provide consumer protection. This specific act broadly covers; the safety and labelling of products, discreditable market prices, price supervision, industry codes and regulations and also the purchases of goods and services. The ACCC was originally formed to administer the Competition and consumer act and other legislations. It helps consumers and businesses that have been a victim of the misconduct of the act. The Prices Surveillance Act 1983

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