What is the primary purpose of the Federal Trade Commission?

The primary purpose of the Federal Trade Commission (FTC) is to promote fair competition and prevent unfair methods in business. This role is crucial in maintaining a healthy marketplace where businesses can compete fairly and consumers can benefit from choices and lower prices. The FTC enforces federal laws that protect consumers and ensures that businesses operate within the framework of fair practices.

To achieve its objectives, the FTC investigates and takes action against practices that may harm competition, such as monopolistic behaviors and deceptive advertising. This helps to create an environment where new businesses can enter the marketplace and where consumers are informed and protected from unfair practices. The focus on promoting competition is essential for innovation and economic growth, making the FTC a key player in the regulation of business practices in the United States.