Customer advocacy is a customer service function that focuses on meeting customer expectations. These professionals represent customers’ interests in company meetings, manage customer experience and help to resolve complaints.

Consumer protection is the practice of safeguarding buyers of goods and services, and the public, against unfair practices in the marketplace. Such laws are intended to prevent businesses from engaging in fraud or specified unfair practices in order to gain an advantage over competitors or to mislead consumers.

Consumer advocate groups have the objective to protect the interests of the buying public. If a business is doing an unfair practice or selling unsafe products, these groups expose it with different types of strategies. Some of these strategies are: publicity, boycotts, letter-writing campaings, and lawsuits.

An advocacy group supports a political or social cause. They may recommend certain changes in government, public policy, society, and/or law. An advocacy group comes together around a common issue, like greater rights for immigrants and refugees, the environment, education, health care, or women’s rights.

Consumer-protection regulations often lead to higher prices, starting from higher production prices, all the way to the actual higher prices in the store where you’re buying something.

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The major drawback is the political and social dissaprove because chemical weapons are bad for the environment and leave too much waste.

Calculate the Price

Answer: They are responsible for creating marketplaces that are fair. They are also responsible for the safety of food products.

Answer and Explanation: Complying with consumer protection regulations helps to create safer products that do not run the risk of harming anyone who purchases them.

Why do government regulations lead to higher prices for consumers? Producers pass along the costs of compliance. What does complying with consumer-protection regulations do? Consumer-protection regulations donot involve what?

Regulations originate from governing bodies. Companies spend capital to bring their products into compliance. These costs must be added to the cost of the product to continue making a profit. Therefore, consumers end up paying the cost of regulations applied to goods and services.

Complying with consumer protection regulations increases production costs and raises prices.

The data show evidence of a statistically significant relationship between regulation and increased prices. Comparing the growth rate of prices over time against the growth rate of regulations over time, the data show that a 10 percent increase in total regulations leads to a 0.687 percent increase in consumer prices.

Explanation: It gives the Federal Reserve the authority to regulate large banks before they become “too big to fail.” It regulates hedge funds, derivatives, and mortgage brokers. The Volcker Rule bans banks from owning hedge funds or using investors’ funds to trade derivatives for their own profit.

Antitrust Legislation. Antitrust legislation is essentially another type of consumer protection. The goal of such legislation is to protect consumers against unfair business practices that limit competition or control prices.

Antitrust law is the law of competition. Why then is it called “antitrust”? The answer is that these laws were originally established to check the abuses threatened or imposed by the immense “trusts” that emerged in the late 19th Century.

The goal of these laws is to provide an equal playing field for similar businesses that operate in a specific industry while preventing them from gaining too much power over their competition. Simply put, they stop businesses from playing dirty in order to make a profit. These are called antitrust laws.

The FTC’s competition mission is to enforce the rules of the competitive marketplace — the antitrust laws. These laws promote vigorous competition and protect consumers from anticompetitive mergers and business practices.

With some revisions, these are the three core federal antitrust laws still in effect today. The antitrust laws proscribe unlawful mergers and business practices in general terms, leaving courts to decide which ones are illegal based on the facts of each case.

Avoiding Price-Fixing or Price-Gouging Laws Avoid discussing future pricing (maximum or minimum) with competitors. Refrain from discussing with competitors any intention to charge emergency or other surcharges or eliminate discounts.

GENERALLY, THE FTAIA PROVIDES THAT THE SHERMAN ACT does not apply to purely foreign activity, but the Sherman Act could apply to partially foreign activity. This article outlines significant considerations to help you understand when U.S. antitrust law reaches foreign conduct.