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What Is Protectionism and Why Might a Government Adopt It

question 96

Essay

What is protectionism and why might a government adopt it as a policy? Explain how three examples of protectionism function.


Definitions:

Discrete Random Variable

A variable that assumes a countable number of distinct values, often representing counts or categorical data.

Probability Distribution

A mathematical function that calculates the probability of different possible results occurring in an experiment.

Random Variable

A variable whose possible values are numerical outcomes of a random phenomenon.

Poisson Distribution

A discrete frequency distribution which gives the probability of a number of independent events occurring in a fixed time.

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