Protectionism Flashcards
1
Q
Protectionism def
A
Approach used by government to protect domestic producers
2
Q
Tariffs def
A
Raise price of imported products, expansion due to domestic supply
3
Q
Quota
A
Limit on imports allowed in a country at a given time
4
Q
Subsidy
A
Payment to encourage domestic production
5
Q
Import licensing
A
Government grant importers to import right goods
6
Q
Technical barriers to trade
A
Product labelling rules and standards
7
Q
Intellectual property laws
A
Copyright protecting domestic ideas
8
Q
Subsidy
A
Any form of government support
