OMVIC Practice Test 2025 – All-In-One Guide to Exam Success!

The statement is false, meaning that the Consumer Protection Act (CPA) does not exclusively protect consumers. The CPA is designed to offer protection to a broader range of parties involved in transactions, including businesses and service providers. Its primary aim is to promote fair practices in the marketplace, ensuring that all parties engaged in commercial transactions are treated fairly and ethically.

While it primarily benefits consumers by ensuring that they are treated fairly and can seek redress for unfair practices, it also outlines responsibilities for businesses, guiding them to engage in fair dealings. This duality ensures a balanced approach to consumer rights and business obligations, thereby fostering a healthier market environment. In understanding the broader implications of the CPA, it is vital to recognize that its protections extend beyond just consumers to include aspects of business operations as well.