Competition Policy refers to the set of laws and regulations that promote fair competition in the marketplace. Its main goal is to prevent monopolies and anti-competitive practices, ensuring that businesses compete fairly. This helps to protect consumers by encouraging innovation, improving product quality, and keeping prices reasonable. Governments and regulatory bodies, such as the Federal Trade Commission in the United States or the European Commission in the European Union, enforce these policies. They investigate mergers, acquisitions, and business practices to ensure that no single company can dominate the market, which ultimately benefits both consumers and the economy.