Which group is most likely to be adversely affected when foreign steel is imported?

Question

Quizplus · Accepted Answer

Domestic steel producers are most likely to be adversely affected when foreign steel is imported as it increases competition and may lead to a decrease in demand for domestic steel. This can result in lower profits and even job losses for domestic steel producers.

Option A is not the best choice as consumers may benefit from cheaper steel prices due to increased competition. Option C may also not be accurate as workers in industries where steel is an input may not necessarily be affected if the industry can source cheaper steel inputs. Option D is not a viable option as importing steel is likely to have a positive impact on foreign steel producers with increased demand for their products.

Which Group Is Most Likely to Be Adversely Affected When