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Category: Consumer Protection
Consumer protection refers to a set of laws and regulations designed to ensure the rights of consumers, promoting fair trade, competition, and accurate information in the marketplace. It aims to safeguard consumers from fraudulent, deceptive, or unfair business practices, ensuring that they have access to safe products and services, the right to make informed choices, and the ability to seek redress or compensation in cases of harm or dissatisfaction. Consumer protection encompasses various aspects, including product safety, truthful advertising, privacy rights, and the regulation of financial services. It is a vital component of a healthy economy, as it helps build trust between consumers and businesses, encouraging responsible market behavior and enhancing consumer welfare.