4.1.4

Question 1

protectionsim

Answer 1

imposing trade barriers and restrications on trade

Question 2

factors of protectionism

Answer 2

tarrifs - makes more expensive
quotas - makes more expensive
subsidies - increase supply by giving money

Question 3

aim of protectionsim

Answer 3

protect domestic industry

Question 4

domestic industry importance

Answer 4

1. provide domestic jobs
2. provide domestic income (gdp)
3. increases spening (gdp)