Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Economics P1: Protection And Trade > Protectionism > Flashcards

Protectionism Flashcards

1
Q

What is protectionism

A

Application of trade policy where state discourages imports

Protects local industries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Positives of protectionism

A 
Industrial development 
Infant industries survival 
Stable wages, high SOL
Increased employment 
Natural resources protected
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

How does it protect industrial base

A

Maintain domestic employment (beggar my neighbor policy)
Protecting workers
Diversifying industrial base
Developing strategic industries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

How does it protect particular industries

A

Dumping preventing
Infant industries
Declining industries
Protecting domestic standards (stability, resources)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly

Economics P1: Protection And Trade (5 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions