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Jerome tried to please his parents by always being good, but whenever Jerome's older brother, Tom, misbehaved, their parents would punish both Tom and Jerome. Jerome soon stopped trying to please his parents because he didn't think it would make any difference. This change in Jerome's behavior is an example of
Protectionism
A call for tariffs and favourable treatments to protect domestic firms from foreign competition.
Foreign Competition
The presence of competitors from other countries in a domestic market, highlighting the global nature of the market and challenges for local firms.
Tariffs
Taxes imposed on imported or, less commonly, exported goods, used by governments to regulate trade, protect domestic industries, or generate revenue.
Importing Products
The business activity of bringing goods or services into one country from another to sell them.
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