Question

Match with the correct Political Argument or Economic Argument for intervention the following: import substitution - promote investment flows- protecting jobs- national security- protecting environment- infant industry argument- protecting consumers- essential industry argument

Answer 1

import substitution:- The main economic agreement is that country should rely more on its domestic production rather than on imports.

Promote Investment Flows:- By promoting investment flows, the economy can be boosted, unemployment can be cratered, new businesses can be created

Protecting jobs:- This is mainly the outcome of political pressure created by unions and industries which are threaded by producers having greater efficiency and have greater clout in comparison to consumers who have to pay the cost

National Security:- Government provides security to those industries which are vital for the national security

Protecting environment:- Government tries to protect the environment so that natural habitats can be protected for a long time and natural resources can be sustained for long

The infant industry argument:- The government must protect and promote the infant industries until it can develop and be viable and competitive at international level.

Protecting consumers:- Consumers must be protected from harmful and unsafe product consumption. This is mainly true with the imported products. It includes limiting or banning the import of certain products

Essential Industry Argument:- The country should develop essential industries so that it does not depend on foreign supplies in case of war.

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