The ________ argument says that a country's emerging industries need protection from international competition during their development.

Question

Quizplus · Accepted Answer

The argument presented in the question matches with the concept of the "infant industry" argument. This argument suggests that a country's nascent and emerging industries require protection from international competition in their initial stages until they have developed the capabilities to compete on a global scale. This idea is based on the assumption that these industries might struggle to compete in the fierce international market without some initial support, which may result in their failure to thrive. Therefore, this argument justifies the implementation of trade policies such as tariffs and subsidies to provide protection for domestic industries until they mature.

The ________ Argument Says That a Country's Emerging Industries Need