practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas is referred to as
A) domestic imperialism.
B) protectionism.
C) blocked competition.
D) import taxation.
E) trade restrictions.

Question

Quizplus · Accepted Answer

Protectionism refers to the practice of shielding domestic industries from foreign competition through the use of tariffs, quotas, and other trade barriers. It is often used to protect domestic jobs and industries, but can also lead to higher prices for consumers and decreased competitiveness in the global market.

Practice of Shielding One or More Sectors of a Country's