Examlex

Solved

The Proposition That Protection Is Necessary to Allow an Infant

question 62

Multiple Choice

The proposition that protection is necessary to allow an infant industry to grow into a mature industry so that it can compete in world markets is the .


Definitions:

Efficiency

The degree to which resources are used optimally to achieve a desired outcome, minimizing waste and maximizing output.

Equality

The situation where individuals have the same rights, opportunities, and status.

Society's Resources

The total available assets, both natural and man-made, that are available for use by a society.

Marginal Benefit

The supplementary pleasure or utility a consumer experiences when an additional unit of a good or service is consumed.

Related Questions