Which of the following groups is likely to lose from free trade?
A) producers of an industry that has been protected from foreign competition
B) consumers purchasing goods and services
C) firms aware of the potential gain from free trade
D) foreign producers buying quota rights to sell goods in the domestic market
E) domestic producers importing raw materials for the production of manufactured goods

Question

Quizplus · Accepted Answer

Producers of an industry that has been protected from foreign competition are likely to lose from free trade as they will now have to compete with cheaper foreign goods and may lose market share.

Which of the Following Groups Is Likely to Lose from Free