Developing countries argue and justify the use of trade protection to establish and strengthen their manufacturing...
Developing countries argue and justify the use of trade
protection to establish and strengthen their manufacturing sector.
This relates to:
a) the patriotism argument
b) the preservation of the home market
c) no argument about trade and development
d) the infant-industry argument
Homework Answers
Ans.- (D)
This argument refers to the infant industry argument where the government imposes trade protection to protect their infant organizations until they achieve economies of scale and develop completely. This allows the government to facilitate the domestic production and increased exports.
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Developing countries argue and justify the use of trade
protection to establish and strengthen their manufacturing...
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