In the United States, there are various forms of economic oversight that are performed by
the government. Sometimes the government will step in when they feel the need to
encourage competition in a particular industry and to break up companies that have nearly
complete control over a particular market. What is this called when the government initiates
action against companies that appear to have too much power?
consumer protection
OSHA
monopolies
antitrust suits
The oversight of the government to protect the consumer is called consumer protection Option A
What is consumer protection?
The term consumer protection has to do with the ability of the government to ensure that the interest of the final consumer of goods and services is safe guarded. Thus may occur via the imposition of a price regime or by avoiding the springing up of monopolies in a given industry.
As such, when the government steps in to ensure that consumers are not cheated or muffled we call that action of the government consumer protection.
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