What is the goal of consumer protection laws?

The primary goal of consumer protection laws is to promote competition and protect consumers from unfair practices. These laws are designed to ensure that consumers have access to accurate information, are treated fairly by businesses, and can make informed choices in the marketplace. By establishing a legal framework that holds companies accountable for their practices, consumer protection laws help to create an environment where competition can thrive, ultimately benefiting consumers through better products, services, and prices.

In contrast, the other options do not align with the objectives of consumer protection laws. Increasing market share for existing companies, for example, does not inherently protect consumers or promote fairness in the marketplace. Similarly, reducing consumer choice contradicts the essence of consumer rights, which are about providing options and empowering consumers. Allowing businesses to set their own rules without oversight can lead to exploitation and unfair practices, which is precisely what consumer protection laws seek to prevent.