Needs Refer to Deficiencies an Individual Experiences at a Particular

question 73

Essay

Needs refer to deficiencies an individual experiences at a particular time.List the three broad categories are typically used to characterize these deficiencies.

---

Definitions:

Protectionism

An economic policy of restricting imports from other countries through methods such as tariffs and quotas to protect domestic industries.

Frederic Bastiat

A French economist and writer known for his advocacy of free markets and his critique of protectionism.

World Trade Organization

An international body that oversees global trade rules between nations, aiming to ensure trade flows as smoothly, predictably, and freely as possible.

Multinational Corporations

Large companies that operate and have assets in several countries, allowing them to produce and sell goods and services across national borders.