by 21st Century Competition | May 8, 2014
Law, ministerial decree, decision or other administrative act adopted by a Member State. A Member State’s omission to act may also constitute a measure. The Commission may start infringement proceedings if State measures, taken in relation to public under- takings and...
by 21st Century Competition | May 8, 2014
Written communication, which the Commission has to address to persons or undertakings before adopting a decision that negatively affects their rights. This obligation of the Commission flows from the addressee’s rights of defence, which require that they be given the...
by 21st Century Competition | May 8, 2014
Measure of the extent to which products may be seen as inter- changeable from the viewpoint of producers or consumers. A firm’s pricing policy for a specific the possibility to buy another product, which they judge as being equivalent by its nature, use and/or...
by 21st Century Competition | May 8, 2014
Sunk costs are fixed costs that have already been incurred and cannot be recovered. They arise because some activities require specialised assets that cannot readily be diverted to other uses. Second-hand markets for such assets are therefore limited. Examples of sunk...
by 21st Century Competition | May 8, 2014
Contract between a buyer and a seller, whereby the former agrees to purchase from the latter a fixed quantity of a product for a given price over a certain period of time. Irrespective of the quantity which is finally needed and transferred, the buyer is bound by its...
