Education and Career Forum

What do you mean by restrictive and unfair trade practices?

Unfair Trade Practice:

It means using various false and fradulent methods to promote one's own business. It includes misrepresentation, false advertisement, tied selling etc. It is called as deceptive trade practices.

Restrictive Trade practice:

It means condition in which big traders engage themselves in activities that tries to block inflow of capital into production prices. They try to form cartel and increase prices to higher extent.

As per WTO norms, unfair and restrictive trade practices are highly prohibited.