Methods of protection

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  • Created by: Jess
  • Created on: 19-04-14 14:30

Methods of protection:

Protectionism: the protection of domestic industries from foreign competition 

  • Tariffs (tax on imports) - raise revenue and discourage domestic consumers from buying imported. Aim of a tariff is to shift demand from imports to domestically produced products. 

A04: may incur retaliation

  • Quotas (a limit on imports) this reduces the supply…

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