Question

Which of the following are forms of protectionism? imposing tariffs dumping products applying quotas decreasing exports increasing imports

Answer 1

Answer: imposing tariffs

applying quotas

Explanation:

Tariffs are known to be tax levied on imported goods and services by the government of a country. Imported goods are goods from other countries.

Quotas are known to be used in order to reduce the amount of goods and services which can be imported from another country or exported to another country at a time.

Thus, these are done by the government in order to protect local or domestic industries and encourage them produce local goods and services. Citizens are also encouraged to buy locally or domestically made goods.

Answer 2

Imposing tariffs apply tariff to import