Economists Usually Agree with Which of the Following Arguments That

question 24

Multiple Choice

Economists usually agree with which of the following arguments that favour protectionism?

• A)the competition with cheap foreign labour defence
• B)the job protection defence
• C)the dumping defence
• D)the infant-industry defence
• E)None of the above.Economists generally agree that arguments in favor of protection are flawed.

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Definitions:

Public Good

Goods or services that are provided without profit to all members of a society, either by the government, a non-profit organization, or by a private individual or organization.

Common Good

The benefit or interests of all involved in a given community or society, often cited as a reason for ethical or political actions.

Private Good

A product or service that is consumed by an individual or a limited group, characterized by its excludability and rivalrous nature.

Common Characteristics

Shared features or qualities among items, individuals, or groups that allow them to be categorized or identified as part of a larger set.