Question

What is meant by Consumer protection?​

Answer 1

⎝⎝⫸⫷ANSWER⫸⫷⎠⎠

Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace.Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.

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Answer 2

Explanation:

Consumer protection means protecting the rights of consumers. It also helps to protect fair trade competition and truthful information in a market economy. Various laws and organisations are designed to do this.

For example, the U.S. Food and Drug Administration (FDA) calls itself “the world's premier consumer protection regulatory agency.” Other examples of consumer protection by regulation are occupational licensing, housing codes, the Federal Trade Commission, the Consumer Product Safety Commission, the Securities and ...