The protection of markets with excess labor refers to the erection of barriers to imports of products competing with local offerings in an effort to protect local jobs. This is found in the <u>"Arguments for Protectionism"</u> section.
<u>Explanation</u>:
Arguments for Protectionism were made to protect the national security value of the trade. The arguments for protectionism section comprise many protection measures. They are as follows:
i) Protection on markets with excess productive capacity
ii) Employment protection and protection of markets with excess labor
iii) Protection of consumers
iv) Infant industry arguments
v) National defense interests
Excess productive capacity in the markets can help in invoking the protection of local labor and preventing purchase from foreign countries.
Answer by Mimiwhatsup: B.They attacked Portuguese ships and trading posts.
Why: When Portugal built a global empire other countries attacked Portuguese ships and trading posts.
Trade enhances economies through the creation of jobs, and the sale of the items. Can't have an economy without buying and selling. Trading is usually a positive thing, that being said certain types of trade can actually hurt jobs. For instance, when more modern clothing was invented and sold, lots of people selling animal skin clothing and such probably had to find a new way to make a living.
<span>Products that customers consider essentials or necessities tend to have less elasticity than products viewed as luxury or discretionary. If a customer believes he needs a certain product for survival, quality of life, or pleasure, he is more likely to stretch a bit to purchase the item if the price goes up. On the contrary, a product viewed as optional is a less likely purchase as the price increases because the customer believes he can live without it.Customer OptionsThe more options a customer has to meet a particular functional or emotional need, the more elastic a product's demand. This is why a company with a monopoly has a huge advantage. Customers don't have options and feel compelled to buy from the given provider. In highly competitive industries, price differentials are usually less among competing brands because of the ability customers have to select lower-priced alternatives. A closely related factor is the cost of switching brands. Cell phone customers often wait to change providers to avoid penalties if they are obligated to service contracts.
</span><span />