Which of the following is most likely to benefit from protectionism?

Question

Quizplus · Accepted Answer

Domestic producers of goods that are also imported from foreign countries are most likely to benefit from protectionism as it would limit the competition from foreign companies and allow them to charge higher prices without fear of losing market share. This type of protectionism is often referred to as import substitution. The other options, such as consumers of all goods and domestic producers of goods that are exported to other countries, would not benefit as much from protectionism. Consumers of all goods may be protected from inferior products, but they would also face higher prices and limited choices. Domestic producers of goods that are exported to other countries would be hurt by protectionism as it would make their products more expensive and less competitive in foreign markets.

Which of the Following Is Most Likely to Benefit from Protectionism