What does the letter ‘M’ stand for in the MRTP Act 1969?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Monopolies.
In the MRTP Act of 1969, the letter ‘M’ stands for Monopolies. The MRTP Act, or the Monopolies and Restrictive Trade Practices Act, was enacted to prevent the concentration of economic power in the hands of a few individuals or enterprises and to curb monopolistic and restrictive trade practices. The Act aimed to promote fair competition and protect consumer interests by regulating and controlling monopolies and trade practices that could potentially harm the market and economy.