The Federal Trade Commission Act was enacted in 1914 to promote fair competition and protect consumers from unfair business practices. It established the Federal Trade Commission (FTC), a federal agency responsible for enforcing antitrust laws and preventing deceptive advertising. The Act empowers the FTC to investigate and take action against companies that engage in unfair or deceptive acts or practices. This includes false advertising, fraud, and anti-competitive behavior, ensuring that consumers have access to accurate information and a competitive marketplace.