Which of the following denotes the practice of protecting domestic business at the expense of free market competition?
A) Fair trade
B) Balanced trade
C) Free trade
D) Market liberalism
E) Protectionism

Question

Quizplus · Accepted Answer

Protectionism denotes the practice of protecting domestic business at the expense of free market competition. It involves the imposition of tariffs, quotas, and other trade barriers to limit imports and give an advantage to domestic producers. Fair trade, balanced trade, and free trade all promote free market competition and do not involve protectionist measures. Market liberalism is a broader term that encompasses a range of economic and political philosophies focused on individual freedom, free markets, and limited government intervention.

Which of the Following Denotes the Practice of Protecting Domestic