When import restrictions are placed on the flow of goods coming into a country, the primary beneficiaries of this action are:

Question

Quizplus · Accepted Answer

Import restrictions, such as tariffs and quotas, are designed to protect domestic industries from foreign competition. By limiting the amount of goods that can be imported, these measures can lead to higher prices for imported goods, making domestically produced goods more competitive in the local market. This can benefit domestic firms and their employees by potentially increasing sales, profits, and possibly leading to job preservation or creation within the protected industries.

When Import Restrictions Are Placed on the Flow of Goods