The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports ________________.
A) Liberalization
B) Globalization
C) Re-engineering
D) Protectionism

Question

Quizplus · Accepted Answer

The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports is known as protectionism. This is achieved by imposing tariffs or other barriers on imported goods, making them more expensive and less competitive in the domestic market. Protectionism is often criticized for its negative impact on international trade and economic growth, and is seen as a counterproductive policy in the context of globalization and liberalization.

The Theory or Practice of Shielding a Country's Domestic Industries