Protectionism achieves which of the following goals?
A)Greater consumption possibilities through greater specialization.
B)Protection of infant industries.
C)Protection of comparative advantage.
D)Protection of absolute advantage.

Question

Quizplus · Accepted Answer

Protectionism aims to protect infant industries, which are new and relatively weak industries that may require temporary protection against foreign competition in order to establish themselves in the market. This protection can include tariffs, quotas, and other trade barriers. Protectionism does not aim to promote greater consumption possibilities through greater specialization or protect comparative or absolute advantage, as it restricts trade and limits access to foreign goods and services.

Protectionism Achieves Which of the Following Goals