Some nations try to nurture and encourage new firms with lots of promise, so they protect them from foreign competition. This is called the _________ argument for trade protection.

Question

Quizplus · Accepted Answer

The argument described is the "infant industry" argument, which states that new and promising industries need protection from foreign competition in order to develop and become competitive in the global market.

Some Nations Try to Nurture and Encourage New Firms with Lots