Question

Protectionism is the use of trade barriers to protect local companies and their workers from:

Answer 1

Protectionism is the use of trade barriers to protect local companies and their workers from foreign competition. Import tariffs, quotas, subsidies/tax cuts to local businesses and direct state interventions are some methods of Protectionism. This is where government actions and policies directly restrict or restrain international trade with the intention of protecting local businesses and jobs from foreign competitions.

Some critics argue that over time these types of government actions end up hurting people that they intend to help and protect. They promote free trade as an alternative and superior solution over protectionism.

Answer 2

Answer: F

Explanation: