Protectionism protects domestic industries from the competitive forces exerted by foreign firms.

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Protectionism involves government measures to restrict or limit imports, allowing domestic industries to enjoy a certain degree of protection from foreign competition. This can take the form of tariffs, quotas, subsidies, or other policies that make foreign goods more expensive or difficult to obtain compared to domestic products. The main objective of protectionism is to promote domestic industries, create jobs, and reduce dependence on foreign goods, but it can also lead to higher prices, reduced consumer choice, and retaliation from other countries.

Protectionism Protects Domestic Industries from the Competitive Forces Exerted by Foreign