Protectionism Is Usually Justified on the Basis of One of Four

question 2

Essay

Protectionism is usually justified on the basis of one of four arguments.What are those four arguments?

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Definitions:

Intangible Assets

Non-physical assets owned by a business that can provide economic benefit, such as patents, trademarks, and goodwill.

Noncompetitive Clause

A contract agreement that restricts one party from entering into or starting a similar profession or trade in competition against another party.

Due Disclosure

The legal and ethical requirement to provide honest and complete information relevant to a business transaction or financial statement.

Good Cause Clause

A provision in contracts that allows for termination of the agreement under specified conditions that are deemed to be legitimate or of "good cause."