Asked by Alianna Jiminian on Apr 25, 2024
The following are commonly used arguments for protection against imports, except
A) self-sufficiency and diversification-for-stability.
B) protection against dumping.
C) infant industry protection.
D) price and profit maintenance.
Self-Sufficiency
The ability of an individual or economy to provide for all their needs without external assistance.
Infant Industry Protection
Economic policies designed to protect young or emerging domestic industries from foreign competition.
Price and Profit Maintenance
Practices aimed at keeping prices at a certain level to ensure sustainable profits, often through agreements or monitoring.
- Review the historical evolution and present-day application of tariffs, quotas, and alternative protective measures, and their repercussions on worldwide trade.
- Scrutinize the economic bases for endorsing and rejecting protectionism, with particular attention to the encouragement of fledgling industries and the preservation of native job markets.
Learning Objectives
- Review the historical evolution and present-day application of tariffs, quotas, and alternative protective measures, and their repercussions on worldwide trade.
- Scrutinize the economic bases for endorsing and rejecting protectionism, with particular attention to the encouragement of fledgling industries and the preservation of native job markets.
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