The Candinia government continues to impose high tariffs on rice to make sure local farmers can earn a living. The tariff on rice is an example of _____.
A)a voluntary government restriction
B)political uncertainty
C)protectionism
D)a security quota
E)a bureaucratic subsidy

Question

Quizplus · Accepted Answer

The imposition of high tariffs on rice by the Candinian government to protect local farmers is an example of protectionism. Protectionism is a trade policy that aims to shield domestic industries from foreign competition by imposing restrictions such as tariffs, quotas, and subsidies. In this case, the high tariff on rice is meant to discourage importation and give local farmers an advantage in the market.

The Candinia Government Continues to Impose High Tariffs on Rice