Those in favor of protectionism advocate that protectionism
A) helps reduce tariffs and quotas.
B) encourages the development of domestic industries.
C) encourages economic reliance on foreign countries.
D) creates opportunities for the outsourcing of domestic jobs.
E) creates a more favorable environment for a global economy.

Question

Quizplus · Accepted Answer

Protectionism is a policy where a country protects its domestic industries from foreign competition by imposing tariffs, quotas or other barriers to trade. Supporters of protectionism argue that it helps develop domestic industries as they are shielded from foreign competition, allowing them to grow and compete on a level playing field. This can lead to job creation, higher wages, and increased economic growth.

Those in Favor of Protectionism Advocate That Protectionism