The Infant-Industry Argument States That Temporary Trade Protection Is Needed

question 24

True/False

The infant-industry argument states that temporary trade protection is needed to protect a new industry against competition from more established and efficient foreign firms.

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Definitions:

Regulator Movements

Refers to uprisings in the late 1760s and early 1770s by settlers in the American colonies, particularly in North Carolina and South Carolina, against corrupt colonial officials.

Tobacco Growers

Farmers and agricultural workers who specialize in cultivating tobacco, a crop used primarily for smoking, chewing, snuff, and for the manufacture of nicotine products.

Backcountry Farmers

Individuals farming in remote, rural areas, often with limited resources and technology, primarily for subsistence in the 18th and 19th centuries.

Continental Association

An agreement adopted by the First Continental Congress in 1774 to halt trade with Great Britain as a protest against taxation without representation.