MRTP Act was enacted in 1969 to ensure that the operation of the economic system
does not result in the concentration of economic power in hands of few. The full form
of MRTP is _________.
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Monopolies and Restrictive Trade Practice.
- MRTP stands for the "Monopolies and Restrictive Trade Practices Act." Enacted in 1969, this legislation aimed to curb monopolistic and restrictive trade practices in India, preventing the concentration of economic power among a few dominant entities. The primary objectives were to foster fair competition and safeguard consumer interests.