What does the Competition Act primarily aim to achieve?

The primary aim of the Competition Act is to maintain and encourage competition in Canada. This legislation is designed to promote fair competition among businesses, which ultimately benefits consumers by fostering innovation, improving product quality, and lowering prices. The act seeks to prevent anti-competitive practices, such as monopolistic behaviors and deceptive marketing practices, ensuring that markets operate efficiently and consumers have access to a variety of goods and services.

In contrast to options like preventing mergers or controlling prices, the focus of the Competition Act is broader and more foundational, centering on maintaining market dynamics that allow for healthy competition. While mergers may be regulated under the Act, particularly those that could substantially lessen competition, the Act does not aim to prevent all mergers outright. Similarly, the regulation of bank operations falls under different regulatory frameworks, and price control is not a primary objective of the Competition Act, as this could interfere with the natural functioning of market forces.

Therefore, the correct answer underscores the Act's essential role in fostering a competitive business environment in Canada, aligning with the overall objective of promoting economic health and consumer welfare.