ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Antitrust laws are statutes developed by governments to protect consumers from predatory business practices and ensure fair competition. Antitrust laws are applied to a wide range of questionable business activities, including market allocation, bid rigging, price fixing, and monopolies.

Detailed explanation-2: -The FTC’s mission is protecting the public from deceptive or unfair business practices and from unfair methods of competition through law enforcement, advocacy, research, and education. Our work to protect consumers and promote competition touches the economic life of every American.

Detailed explanation-3: -Antitrust laws protect competition. Free and open competition benefits consumers by ensuring lower prices and new and better products.

Detailed explanation-4: -The FTC enforces federal consumer protection laws that prevent fraud, deception and unfair business practices. The Commission also enforces federal antitrust laws that prohibit anticompetitive mergers and other business practices that could lead to higher prices, fewer choices, or less innovation.

Detailed explanation-5: -Consumer injury. Unjustified consumer injury is the primary focus of the FTC Act, and the most important of the three S&H criteria. Violation of public policy. Unethical or unscrupulous conduct.