4.1.4 Flashcards
(2 cards)
1
Q
What is ‘protectionism’?
A
A restriction of trade between countries through implementing financial or administrative constraints such as tariffs, quotas or governmental policies and regulations
2
Q
What are 5 possible benefits of protectionism?
A
- Infant industry advancement
- Employment protection
- Revenue gains
- Improve balance of payments
- Protecting citizens
