Consumer protection

efforts and measures intended to protect consumers of goods or services against unfair practices in the marketplace

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.

The laws are designed to stop companies using unfair practices to gain an advantage over their competitors. Examples of such practices are fraud and "false advertising", where a company advertises their product with false information.

Consumer protection laws are a form of regulation.

More readingEdit

  • Klein, Daniel B. (2008). "Consumer Protection". In David R. Henderson (ed.) (ed.). Concise Encyclopedia of Economics (2nd ed.). Indianapolis: Library of Economics and Liberty. ISBN 978-0865976658. OCLC 237794267.CS1 maint: extra text: editors list (link)