Protectionism refers to the government's use of various measures such as embargoes, tariffs, quotas, and other restrictions to shield domestic producers from foreign competition. This is done to protect the local industries and jobs, and boost the national economy.

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Protectionism Is

Question 27

Multiple Choice

Protectionism is:

A) the government's use of embargoes, tariffs, quotas and other restrictions to protect domestic producers from foreign competition.
B) the government's use of antimonopoly policy to protect local producers.
C) the government's use of monetary policy to protect domestic producers from overseas competition.
D) the government's use of politics to support imports from overseas.

Correct Answer: