1. How does protectionism defined? 2. What is the history of the protectionism? 3. What do...

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Economics

1. How does protectionism defined? 2. What is the history of theprotectionism? 3. What do the pieces imply about protectionismtoday? 4. What do the pieces imply about the future ofprotectionism? 5. What has been and what would be the impact ofprotectionism in the World?

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Ans 1 Protectionism It is an economic policy that is employed by the government of a nation to restrict imports from other nations This is mainly done to protect the domestic industries of a country against international trade and uncertain probabilities of the global market The policy use techniques like increasing the tariff on imports setting import quotas and other such more regulations Ans 2 The protectionism policy goes as far back to the 17th century when the European countries were in favor of this policy Although this does not mean that this policy came to existence only then The kingdom tried to protect their lands by using it against foreign kingdoms in times of See Answer

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