This paper aims to examine the relation between the subject of Economics, and the recently developed Competition Law, and how there is an interplay between both fields in order to attain market participation. Competition law is a nascent field, and understanding the dynamic state of the market requires regular improvements and changes to be made within its provisions. The latest developments in the telecom market and the e-markets have inspired a change in market functioning and market practices. This was analyzed by a review of previously written papers on the same, and aligned topics to establish the effectiveness of the implementation of competition law. An analysis was undertaken related to the concept of collective dominance, which is a part of European and USA competition law jurisprudence. The same requires further market analysis to be included in the Indian legal jurisprudence; an explanation of the concepts’ current legal standing was also done. To analyze the effectiveness of the field, indices released by a number of organizations were used. The study aims to establish the interrelation between the two fields and their relevance in the market.