Final answer:
Consumers can fight against malpractices by filing complaints with the FTC, seeking legal recourse through the courts for fraud or deceptive practices, and staying well-informed as embodied in the principle of 'caveat emptor'. Regulatory bodies can also take legal action against fraudulent companies, as seen with the prosecution of an international vitamin cartel.
Step-by-step explanation:
Consumers have various legal avenues to fight against malpractices and fraud in the marketplace. If a consumer believes they have been a victim of false advertising, adulteration, or any deceptive business practice, they can file a complaint with the Federal Trade Commission (FTC), which checks factual claims about product performance and prohibits untrue "facts" in advertising. In severe cases of fraud or antitrust violations, such as with the international cartel of vitamin manufacturers in the late 1990s including Hoffman-La Roche, BASF, and Rhone-Poulenc, regulatory bodies can prosecute and inflict heavy fines or even jail time for involved executives.
Laws also exist to compel businesses to provide essential information, like nutritional facts on food and warning labels on tobacco products. Additionally, consumers can seek recourse in courts by filing a lawsuit against a business or manufacturer if they believe they have been the victim of fraud through false or misleading statements in connection with a commercial transaction. However, as noted by the ancient Latin principle caveat emptor, it remains essential for consumers to stay vigilant and well-informed about products and services they purchase.