Explain the importance of consumer protection from the point of view of a business.
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Consumer protection is important from the view point of consumers, as it protects them from exploitative and unfair trade practices. . Ans. Consumer protection is important for businessman because of long-term interest of business.
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Consumer protection makes markets work for both businesses and consumers. Consumers need to be able to obtain accurate, unbiased information about the products and services they purchase. This enables them to make the best choices based on their interests and prevents them from being mistreated or misled by businesses.
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