Consumer welfare is the establishment of laws and regulations that guide and govern business practices in order to protect consumers.

Name: Consumer welfare is the establishment of laws and regulations that guide and govern business practices in order to protect consumers.
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Question

Quizplus · Accepted Answer

Consumer welfare refers to the overall well-being and benefit that consumers derive from the purchase and use of goods and services, rather than specifically to the establishment of laws and regulations.

Consumer Welfare Is the Establishment of Laws and Regulations That