Protectionism refers to
A)the practice of purchasing products exclusively from a domestic market in order to shore up a nation's economy.
B)the use of tariffs,quotas,and boycotts with the express intention of putting foreign competitors out of business.
C)the practice of shielding one or more sectors of a country's economy from foreign competition through the use of tariffs or quotas.
D)a form of domestic imperialism that holds that only those products manufactured within one's home nation are of sufficient quality to warrant purchase.
E)the practice of purchasing products exclusively from a foreign developing country in order to develop its industries and economic infrastructure.

Question

Quizplus · Accepted Answer

Protectionism refers to the practice of shielding a country's economy from foreign competition through the use of tariffs or quotas. This may be done to protect certain sectors of the economy that are seen as vulnerable, or to give domestic companies an advantage over foreign competitors. It can also be used to promote domestic industries and create jobs, although it may lead to higher prices for consumers and increase tensions between trading partners.

Protectionism Refers to