What is the primary function of the Federal Trade Commission?

The primary function of the Federal Trade Commission (FTC) is to investigate unfair business practices. Established in 1914, the FTC is charged with protecting consumers and maintaining competition in the market. This involves enforcing laws that prohibit deceptive and unfair business practices, ensuring that businesses compete fairly and that consumers are not misled or harmed by unethical practices. The agency conducts investigations, holds hearings, and can bring enforcement actions against companies that violate consumer protection laws.

Other functions like regulating stock market transactions, overseeing food and drug sales, or ensuring workplace safety fall under different agencies, such as the Securities and Exchange Commission (SEC), the Food and Drug Administration (FDA), and the Occupational Safety and Health Administration (OSHA), respectively. By focusing on unfair business practices, the FTC plays a crucial role in maintaining a fair marketplace and protecting consumer rights.