Which of the Following Statements Is Used to Justify Protectionism

question 105

Multiple Choice

Which of the following statements is used to justify protectionism?

• A)Free trade leads to higher prices for imported goods.
• B)Free trade increases employment by protecting domestic firms.
• C)A country should not rely on other countries for goods that are critical to its national defence.
• D)Trade restrictions are not necessary to protect new firms since they can gain experience and become more productive without protection.

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Definitions:

Universal Consumer Needs

Fundamental and common requirements or desires shared by consumers across different cultures and demographics, such as safety, value, and convenience.

Cultural Similarities

Aspects or elements shared between different cultures, including values, beliefs, practices, or language, which can facilitate understanding and interaction.

Transnational Firm

A multinational company that operates across borders, managing operations in more than one country through a global approach that integrates local responsiveness with global integration.

Multidomestic Marketing Strategy

A marketing approach that involves adapting marketing strategies and messages to fit the cultural and consumer needs of different national markets.