Import restrictions on a product protect domestic industries by:

Question

Quizplus · Accepted Answer

Import restrictions on a product typically involve imposing tariffs or quotas on the import of that product, which ultimately leads to a decrease in the amount of imported goods. This in turn, raises the price of the good, making it comparatively more expensive than the domestic product. As a result, consumers are more likely to purchase the domestic product instead, which protects domestic industries. Therefore, decreasing the imports of the good and raising the price is the best choice.

Import Restrictions on a Product Protect Domestic Industries By