What is the abbreviation FTC stand for?

The abbreviation FTC stands for the Federal Trade Commission, which is a vital agency of the U.S. federal government. It was established in 1914 to protect consumers and maintain competition. The FTC is responsible for enforcing antitrust laws and preventing deceptive business practices, ensuring that businesses engage in fair competition.

The role of the Federal Trade Commission is crucial in today’s economy as it addresses issues related to consumer rights, fraudulent practices, and market competition. Understanding the FTC's function helps clarify its importance in safeguarding consumer interests and promoting a fair marketplace.