The market is a means of transaction of goods and services in which economic relationships are established between various actors. Effective or practicable competition contributes to the regulation of prices of suppliers that promote their products in the market.
For the efficient, healthy and transparent functioning of a market, competition law must act as a regulatory agent of the State in the face of imperfections or abuses by certain economic agents, protecting the common benefit and the rights of citizens.
This is enshrined in Article 336 of the Ecuadorian Constitution: "(...) The State shall ensure transparency and efficiency in the markets and shall promote competition under equal conditions and opportunities, which shall be defined by law."
It is essential to understand that the unilateral imposition of commercial conditions can lead to the creation of business cartels, in which several economic agents can restrict, manipulate, affect or distort supply and demand conditions in the market.
Law and economics are concomitant sciences. In Ecuador, the purpose of the Superintendence of Economic Competition is to prevent, prohibit and punish conduct considered anticompetitive, such as abuse of market power, collusive agreements and unfair practices., in order to promote more efficient markets, guarantee fair trade and ensure general welfare..
