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Q: The economic policy advocating government protection of domestic agriculture and industries from foreign competition by institution of tariffs quotas or other restrictions on foreign imports is called?
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What is the philosophy advocating equal distribution of wealth?

Socialism and Communism.


What is the meaning of the term socialism?

Socialism is an economic system in which goods and services are provided through a central system of cooperative and/or government ownership rather than through competition and a free market system. Refer to link below


Does the government not regulate crude oil prices because President Bush and people in his administration have investments in oil stocks?

Crude Oil is regulated by the market through trading. The government's controlling oil prices is socialist idea. Government regulation has taught us many things. See "Communism." Assuming just for argument's sake that President Bush and his associates and friends have stock in oil companies, what makes you think that that is a possible reason for the lack of price regulation? If President Bush were as powerful as you seem to think he is, why wouldn't he be in favor of regulation and setting prices HIGHER than they are right now? The reason there is no price regulation is simple: it doesn't work, because it's economically unsound. Setting price limits on any commodity, including oil and gas, does one thing for certain: it causes shortages in that commodity. So the next time you hear somebody advocating for price controls, keep in mind that he is therefore advocating for shortages and long lines at the pumps as gas stations run out of gas.


What does the term laissez-faire mean?

The term comes form the French words "laissez faire" which means "let/permit doing". (I.e. someone should permit someone else to do what they want.) It has come to a political term advocating for a minimal governmental policy. Some aspects of a laissez-faire policy is lessening or no taxation of all citizens. It also advocates for minimal interference possible with business, both in the creation of national business, the nationalization of private industries, the taxation or regulation of private industries, or any attempt to direct the intentions of private industrialists The government should interfere as little as possible with business.(apex)


How does laissez faire work?

Doctrine that interference of government in business and economic affairs should be minimal. Adam Smith's The Wealth of Nations (1776) described laissez-faire economics in terms of an "invisible hand" that would provide for the maximum good for all, if businessmen were free to pursue profitable opportunities as they saw them. The growth of industry in England in the early 19th century and American industrial growth in the late 19th century both occurred in a laissez-faire capitalist environment. The laissez-faire period ended by the beginning of the 20th century, when large monopolies were broken up and government regulation of business became the norm. The Great Depression of the 1930s saw the birth of Keynesian Economics an influential approach advocating government intervention in economic affairs. The movement toward deregulation of business in the United States that began in the 1970s and 80s is to some extent a return to the laissez-faire philosophy. Laissez-faire is French for "allow to do." Source: Answers.com A.) government should not interfere with the operation of the economy.

Related questions

What The economic policy advocating government protection of domestic agriculture and industries from foreign competition by institution of tariffs quotas or other restrictions on foreign imports is c?

You need to answer this question because we don’t have the article you read and your teacher is looking for your critical thinking skills and how well you understood the lesson. Not our answers.


Can you give a sentence with the word advocating in it?

That means speaking or arguing in favor of. Here are some sentences.He is advocating for civil right.She was advocating for abused children.Because of their advocating, the law was changed.


What is an example of a sentence using advocating?

Advocating for abused women, the man won an international award.


Antislavery crusaders sought what for slaves?

Antislavery crusaders sought freedom and better treatment for slaves, working to end the institution of slavery and advocating for the abolition of laws that supported it. They also worked towards social and political equality for former slaves after emancipation.


What did the abolistionist movement promote?

The abolitionist movement promoted the complete end of slavery, advocating for the freedom and equal rights of enslaved individuals. It sought to abolish the institution of slavery and bring about social justice and equality for all individuals, regardless of race.


Did The Progressive believe in Social Darwinism?

No, The Progressive did not believe in Social Darwinism. The magazine was founded on principles of social justice and equality, advocating for progressive social and political reforms.


What is advocating homosexuality?

The term "advocating homosexuality" is generally used by people who oppose gay rights. It is the mistaken belief that you can encourage people to be gay, which is impossible.


What is the political concept advocating change in small steps?

Gradualism is the process of advocating change in small steps. Hope that helps you all with 1 down!!


Which belief by Enlightenment philosophers advocating a social contract can be found in the US Constitution?

The belief in the consent of the governed, which is a key aspect of the social contract theory, can be found in the US Constitution. This is reflected in principles such as popular sovereignty, which asserts that the power of the government is derived from the people.


Who opposed slavery and the slave trade?

Prominent figures who opposed slavery and the slave trade include William Wilberforce in Britain and Frederick Douglass in the United States. They were key figures in the abolitionist movements in their respective countries, advocating for the end of the transatlantic slave trade and the institution of slavery.


Who were the abolitionists and what were their racial attitudes?

Abolitionists were individuals who sought to end the institution of slavery. Their racial attitudes varied, with some promoting racial equality and advocating for the rights and freedoms of all races, while others held racist beliefs and viewed African Americans as inferior. Overall, abolitionists played a crucial role in the movement to abolish slavery in the United States.


Who is noted for advocating separation of church and state?

Thomas Jefferson