B)is the correct option.
Consumer protection laws are meant to prevent unfair or deceptive business practices.
Further explanation:
Consumer protection:
Consumer protection is a set of laws to protect consumers from buying any deceptive or fraud products. It protects the consumers through some set of guidelines in order to make the consumers aware of what they are buying or purchasing.
Justification for the correct and incorrect answer:
A)Protect businesses from consumers: This option is incorrect.
Consumer protection saves consumers from fraud and unfair practices of business.
B)Prevent unfair or deceptive business practices: This option is correct.
Consumer protection gives protection to consumers from the deceptive and unfair practices of business.
C)Protect consumers from spending too much money: This option is incorrect.
Consumer protection protects the consumer from the fraud and unfair practices of business; it does not protect consumers from spending too much money.
D)Prevent consumers from buying unnecessary items: This option is incorrect.
Consumer protection does not say any consumer to buy a particular product or not. It only awares the consumers from buying fraud and deceptive products.
Thus, consumer protection laws are meant to prevent unfair or deceptive business practices in order to protect consumers.
Learn more:
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3. Consequences of non-payment of monthly credit card payment
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Answer details:
Grade: High School
Subject: Business studies
Chapter: Consumer protection
Keywords:consumer protection laws are meant to protect businesses from consumers, prevent unfair or deceptive business practices, protect consumers from spending too much money, prevent consumers from buying unnecessary items, fraud.
