Question

Government role in the economy how does it protects the consumers ?

Answer 1

 The laws are designed to prevent the businesses that engage in fraud or specified unfair practices from gaining an advantage over competitors. Consumer protection laws are a form of government regulation that aim to protect the rights of consumers.

Consumer protection is linked to the idea of consumer rights and to the formation of consumer organizations, which help consumers make better choices in the marketplace and get help with consumer complaints. Other organizations that promote consumer protection include government organizations and self-regulating business organizations such as consumer protection agencies and organizations, ombudsmen, the Federal Trade Commission in America and Better Business Bureaus in America and Canada, etc.