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Protection
Measures taken by a government to safeguard its industries from overseas competition, often through tariffs, quotas, or other restrictions.
Domestic Price
The price of goods or services within a country, which may differ from international prices due to tariffs, subsidies, or other domestic policies.
World Price
The global market price of a product or service, determined by worldwide demand and supply.
Infant Industries
New or emerging industries in the early stages of development, often considered needing protection from international competition to grow.
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