The article discusses how competition laws and policies are designed and implemented to create fair and competitive markets. It explains that competition policies aim to promote a dynamic and competitive environment, which benefits consumers and encourages innovation. Developing and transitioning economies have reformed their laws to improve economic efficiency and consumer welfare. The article also covers market definition, market shares, agreement practices, and a case study on prosecuting a cartel. It further explores merger agreements, abuse of dominance issues, and the role of competition advocacy in various aspects of the economy.