ELI5: Explain Like I'm 5

Competition law

Competition Law is a way that governments make sure that companies do not do things that might harm people or make things unfair. For example, if two companies both sell something, they should not get together and decide to raise the price because that would make things too expensive for people. Competition Law also stops companies from creating a monopoly, which is when one company has too much control over something and can basically charge whatever it wants. Competition Law makes sure companies have to compete with each other, which makes it better for people because they have more choices and they can get better prices.