Laws to protect consumers. These concern minimum health and safety standards, information and labelling requirements, the provision of advice to consumers, and regulation of consumer credit. The principal official US agencies concerned are the Food and Drug Administration and the Consumer Product Safety Council. UK acts protecting consumers include the Sale of Goods Act, the Trade Descriptions Act, and the Consumer Credit Act. UK public corporations also have consumer councils to handle complaints.
|Reference: Oxford Press Dictonary of Economics, 5th edt.|