Consumer protection refers to a group of laws and organisations designed to protect the rights of consumers. It also helps to protect fair trade competition and truthful information in a market economy.
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 reading[change | edit source]
|The English Wikibooks has more information on:|
- "Consumer Protection". Concise Encyclopedia of Economics (2nd). (2008). Ed. David R. Henderson (ed.). Indianapolis: Library of Economics and Liberty.