Which of the Following Is a Main Feature of Protectionism

question 71

Multiple Choice

Which of the following is a main feature of protectionism?

• A) high levels of risks for domestic industries
• B) increased risk for local workers
• C) compromise on national security
• D) governmental intervention in trade
• E) formation of trade blocs between nations

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Definitions:

Utility

In economics, the satisfaction or benefit derived by consuming a product, thus the preference for one product over another.

Market Baskets

A collection of goods and services used to track price changes and economic inflation over time, representing a fixed set of consumer products and services.

Completeness

A principle in consumer theory stating that consumers can rank all possible bundles of goods in terms of preference.

Transitivity

In preferences, it's the principle that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.