protectionism - government legislation Flashcards
1
Q
what do government legislations focus on with products?
A
- ingredients
- labelling
- packaging
- design
- performance (e.g. emissions)
2
Q
what are government legislations designed to?
A
designed to protect consumers and restrict imports
3
Q
benefits of government legislation
A
- less competition for domestic firms
- higher profits
- job creation/security
4
Q
drawbacks of government legislation
A
- possible retaliation
- less choice of consumers
