4.1.6 - Restrictions on free trade Flashcards by Helder Kiala | Brainscape

Q

What is protectionism?

A

Protectionism involves any attempt by a country to to impose restrictions on the open trade in goods and services.

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Q

Name 2 examples of protectionism measures

A

Tariff
Quotas
Export subsidies

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Q

Name 2 pros of protectionism

A

Increase value of goods and services
Increase demand if there’s absolute and comparative advantage
Reduce reliance on other economies
Promote and protect domestic industry

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