Question

Consumer protection laws are meant to:

Answer 1

Prevent unfair or deceptive business practices.

Further Explanation:

Consumer protection is a practice which protects its customers from unfair practices and competitions that take place in the markets. The measures of consumer protection are often established by the law and they are also many times undertaken by non-governmental agencies or organizations. These laws are designed to prevent consumers from any kind of fraud or unfair prices on certain goods or products.  

Consumer protection laws are linked to the idea of consumer rights and that has led to the birth of the various organizations which are consumer-centric. These organizations help consumers to make better choices and if any consumer is unsatisfied with the dealing of any dealer then he can complain against that dealer in these organizations. Some of the consumer-centric organizations in the world are, Federal Trade Commission which is based in America and Better Business Bureau which is headquartered in Canada.  

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Answer Details:

Grade: High School

Chapter: Consumer Protection

Subject: Market Laws

Keywords:

Market, Consumer Protection, Laws, Consumer-centric, Consumer, Organizations, Non-Governmental, Prices, unfair, Goods, Products.

Answer 2

The correct answer is B. Prevent unfair or deceptive bussines practice.

Consumer protection laws are designed to secure the consumer's rights. They are also in charge of ensuring fair trade and well informed marketplaces. The laws prevent fraud and unfair practices.

Options C and D are incorrect because it is the consumer's decision if he/she wants to spend a lot of money or buy unnecessary items. Option A is also incorrect because the Consumers Protection Laws are designed to protect the consumer from the business and not the business from the consumer.