Protectionism is the use of national policies designed to restrict international trade while protecting interests of domestic businesses.

Question

Quizplus · Accepted Answer

Protectionism is a real and common economic policy used by many nations to promote growth and development in their domestic economies. It is often applied through the use of tariffs or other forms of trade barriers to limit the flow of imported goods or services, effectively protecting local businesses from foreign competition.

Protectionism Is the Use of National Policies Designed to Restrict