Unlike the infant-industry argument, the industrialization argument for trade protection ________.
A)requires independence from other countries
B)stresses labor-intensive production methods despite high costs
C)emphasizes use of locally available raw materials for manufacturing inputs
D)presumes that economic growth will occur even if domestic manufactured prices are not globally competitive

Question

Quizplus · Accepted Answer

The industrialization argument for trade protection presumes that economic growth will occur even if domestic manufactured prices are not globally competitive. This argument suggests that it is necessary to protect fledgling industries in order to stimulate economic growth and develop self-sufficiency. It does not prioritize use of locally available raw materials, nor does it necessarily require complete independence from other countries. Additionally, it may support labor-intensive production methods, but this is not a defining characteristic of the argument.

Unlike the Infant-Industry Argument, the Industrialization Argument for Trade Protection