Methods of protection
- Created by: Jess
- Created on: 19-04-14 14:30
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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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