What is one of the key functions of the Consumer Product Safety Act?

The Consumer Product Safety Act is designed primarily to protect consumers from unreasonable risks of injury associated with consumer products. This key function underscores the importance of safety in the marketplace and reflects a commitment to preventing hazards that could cause harm to individuals.

The act empowers the Consumer Product Safety Commission to establish safety standards, pursue recalls for defective products, and create guidelines to promote the safe design and manufacturing of consumer goods. This protective measure helps ensure that products are not only functional but also safe for public use, addressing potential risks before they result in accidents or injuries.

This emphasis on safety is distinct from the other options provided. For instance, regulating pricing strategies and setting minimum wage levels falls outside the scope of product safety and consumer protection laws, focusing instead on economic and labor factors. Monitoring stock market performance pertains to financial regulation rather than consumer product safety, highlighting the specific role that the Consumer Product Safety Act plays in safeguarding the health and well-being of consumers.