Protectionism refers to protection of local industries through tariffs, quotas, and regulations that discriminate against foreign businesses.

Name: Protectionism refers to protection of local industries through tariffs, quotas, and regulations that discriminate against foreign businesses.
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Question

Quizplus · Accepted Answer

Protectionism aims to protect local industries from foreign competition by setting up barriers such as tariffs, quotas, and regulations that favor domestic businesses over foreign ones.

Protectionism Refers to Protection of Local Industries Through Tariffs, Quotas