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What is the policy of protecting domestic industries from foreign competition by placing tariff on imports?
protectionism
Those who favor protective tariffs argue that?
protecting domestic industries from foreign competition. all of the above (NovaNet)
What is the role of the army in protecting national security and maintaining peace, according to APA format guidelines?
The role of the army in protecting national security and maintaining peace is to defend the country from external threats and to support domestic law enforcement when necessary. This is in line with APA format guidelines.
Why is a limit on the amount of goods that can be imported?
A limit on the amount of goods that can be imported, known as a quota, is often implemented to protect domestic industries from foreign competition, ensure national security, and maintain market stability. It helps prevent market saturation, supports local employment, and can promote the growth of emerging industries. Additionally, quotas can serve as a tool for balancing trade deficits and protecting the economy from external shocks.
Why government has to protect local industry?
Governments protect local industries to promote economic stability, safeguard jobs, and foster national competitiveness. By implementing tariffs, subsidies, or regulations, they help shield domestic businesses from foreign competition, allowing them to grow and innovate. Additionally, protecting local industries can enhance self-sufficiency and reduce dependency on imports, contributing to national security and resilience. Ultimately, such measures aim to ensure a balanced economic environment that benefits the broader community.
Why do we have tariffs?
Arguments for protectionism in general:Protect domestic jobs: By imposing a tariff and other measures, the state ensures that the threat for domestic firms posed by international supply is limited thus protecting jobs from being made rudundant.Protect domestic "infant" industries: Often in developing countries many new enterprises for an industry is controlled by a state (classic example: airlines) therefore, imposing tariff and protectionist measures can help reduce the amount of competition and risk faced by these domestic firms from international competitions.Arguments for tariff:Increased government revenue resulting in a better current acount.Limit the amount of "demerit" good from entering the market.Political and social incentives (retaliation) to protest.However, one needs to be aware that there are equally strong arguments against tariff and protectionism that needs to be considered.
Why do governments provide protection for their domestic industries?
To improve the economic.
Argument in favor if protectionism?
Protectionism can safeguard domestic industries and jobs by limiting foreign competition, allowing local businesses to thrive and innovate. It helps protect emerging industries that may struggle to compete against established foreign firms. Additionally, protectionist policies can enhance national security by ensuring critical industries remain under domestic control. Ultimately, it can promote economic stability by reducing dependency on global supply chains.
What best describes a challenge that domestic industries face with trade agreements and globalization?
They must compete with international industries
What are the advantages of trade restriction?
Trade restrictions can protect domestic industries from foreign competition, encourage domestic production, and safeguard national security interests. Additionally, they can be used to address unfair trade practices or to promote specific policy objectives, such as environmental or labor standards.
In order to promote domestic industries in the 1930s countries?
devalued their currencies
What did countries do in the 1930's to promote domestic industries?
devalued their currencies
