Many countries impose tariffs or quotas to protect the domestic industry from competition.

Question

Quizplus · Accepted Answer

Many countries do impose tariffs or quotas on foreign goods in order to protect their domestic industry from competition. These measures can be used to make foreign products more expensive, limiting their appeal to consumers and protecting the market share of domestic producers. However, there is debate over whether these measures are ultimately effective or beneficial for the economy as a whole.

Many Countries Impose Tariffs or Quotas to Protect the Domestic