What term is used for the protection of buyers regarding products and services?

The term that refers specifically to the protection of buyers regarding products and services is "consumer regulations." These regulations are put in place to ensure that consumers are treated fairly and have access to safe products and services. Consumer regulations include laws and guidelines that govern marketing practices, product safety standards, truth in advertising, and consumer rights, ensuring transparency and fairness in transactions.

These regulations help protect consumers from fraudulent practices, unsafe products, and misleading information, thus fostering a healthier marketplace. By establishing clear standards and responsibilities for businesses, consumer regulations contribute to consumer confidence in their purchasing decisions.

In contrast, while regulatory compliance involves adherence to laws and regulations broadly, it is not exclusively focused on consumer protection. Market competition refers to the dynamics of businesses striving to attract consumers, which can indirectly benefit consumers but isn't a protective measure per se. Quality assurance, while important for ensuring products meet certain standards, does not encompass the broader scope of consumer rights and protections that consumer regulations cover.