Question

MCQ why do we need to have set rules and regulations for consumers right

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Answer 1

Answer:

To protect and promote the interest of the consumers against unethical and unfair trade practices.

Answer 2

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. Consumer protection policies, laws and regulations help increase consumer welfare by ensuring that businesses can be held accountable.