The transition from the “buyer beware” era to modern consumer protection laws primarily aims to:

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BlackTom AI · Accepted Answer

The question asks about the shift from the 'buyer beware' era to modern consumer protection laws and what the primary aim of that transition is.
Option 1: 'Ensure corporate accountability and prevent fraudulent practices.' This aligns with the purpose of modern consumer protection: to hold sellers and producers responsible for fair dealing, transparency, and honesty, reducing fraud and misconduct in the marketplace.
Option 2: 'Encourage consumers to take more risks in the market.' In contrast, modern protections actually reduce unreasonable risk for consumers by providing remedies and safeguards, not by encouraging risk-taking; this option mischaracterizes the policy intent.
Option 3: 'Eliminate regulatory oversight entirely.' This is the opposite of the trend; modern consumer protection expands oversight, not eliminates it.
Option 4: 'Shift all responsibility to consumers for any purchasing mishaps.' Modern law distributes responsibility more fairly, imposing duties on businesses and regulators while offering recourse to consumers; this option incorrectly places all risk on consumers and ignores corporate accountability and enforcement.
Overall, the first option correctly captures the core aim of the transition toward stronger protections: ensuring accountability of sellers and preventing fraudulent practices, while the other options describe scenarios that run counter to the protective intent of modern consumer law.

25847 Sustainable Finance - Spring 2025 Quiz 5: Topic 5 - The Rise of 'S' in ESG

The transition from the “buyer beware” era to modern consumer protection laws primarily aims to:

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