Question

What is one role of NSW Fair Trade as a regulatory body?

1) Protecting consumers from unfair trading practices
2) Promoting fair competition in the marketplace
3) Enforcing laws and regulations related to trade and commerce
4) Resolving disputes between businesses and consumers

Answer 1

NSW Fair Trade plays a role in protecting consumers from unfair trading practices.

Step-by-step explanation:

One role of NSW Fair Trade as a regulatory body is protecting consumers from unfair trading practices. They play a crucial role in ensuring that consumers are not taken advantage of by businesses engaging in deceptive or unfair practices.

For example, they may investigate and take actions against businesses that engage in false advertising, price fixing, or selling unsafe products. By enforcing laws and regulations related to trade and commerce, NSW Fair Trade safeguards the rights and interests of consumers.