What information is a trader required to disclose under the Fair Trading Act?

Under the Fair Trading Act, a trader is required to disclose all material information that could affect a consumer's decision. This obligation is aimed at ensuring that consumers are not misled and can make informed choices when purchasing goods or services. The term "material information" encompasses any facts that would likely influence a reasonable consumer’s purchasing decision, such as product features, quality, terms of sale, and any relevant restrictions or risks associated with the product.

This comprehensive disclosure is crucial in promoting fair trading practices and fostering consumer trust. By providing all relevant information, traders help consumers weigh their options effectively and make better-informed decisions, which is a key aspect of consumer protection under the law.

Other options focus on limited aspects of information that might not fulfill the broad obligations set by the Fair Trading Act. For instance, only disclosing the price, warranty information, or competitor information does not cover the breadth of what consumers need to know to make informed choices, therefore not aligning with the intent of the Act as thoroughly as the correct answer does.