A policy aimed at promoting the development of specific industries within a country that may increase domestic welfare through trade with the rest of the world is known as a(n):

Question

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A strategic trade policy is designed to promote the development of certain industries through trade with the rest of the world. The objective is to create a competitive advantage for domestic firms, allowing them to better compete in global markets. This policy is based on the theory of strategic trade, which suggests that a government can intervene in the market to shift the advantage towards domestic firms. The other options, infant-industry policy, key-industry policy, and welfare-trade policy, do not accurately describe this approach.

A Policy Aimed at Promoting the Development of Specific Industries