When a country establishes artificial barriers such as quotas and tariffs, it is engaging in which of the following?
A) protectionism
B) free trade
C) managed trade
D) nationalism

Question

Quizplus · Accepted Answer

Protectionism refers to the use of trade barriers such as quotas and tariffs to protect domestic industries and restrict competition from foreign markets. Free trade, on the other hand, emphasizes the removal of barriers to trade and promotes global economic integration. Managed trade refers to a system in which government intervention regulates the flow of goods and services between countries. Nationalism is a political ideology that emphasizes the importance of national identity, sovereignty, and interests.

When a Country Establishes Artificial Barriers Such as Quotas and Tariffs