Single Answer MCQ
Q-00015514
What is the primary purpose of consumer protection laws?
1
To regulate prices in the market
2
To protect consumers from unfair trade practices
3
To promote the interests of producers
4
To ensure profits for businesses
Answer and Solution
Answer
B. To protect consumers from unfair trade practices
Solution:
Consumer protection laws exist to prevent exploitation of consumers in the marketplace by ensuring that sellers adhere to fair trade practices. Options 1 and 3 focus on market regulation and business interests, while option 4 emphasizes business profits.
Watch Video Solution