Question

Select all the correct answers.
What are the drawbacks of protectionism?
stagnation in quality, efficiency, and innovation
prohibition of subsidies to domestic industries
preventing small businesses from closing down
increased prices and lack of product variety
risk of retaliatory protectionist measures

Answer 1

Answer:

Explanation:

The drawbacks of protectionism is:

*Limited choices for consumers:

*Consumers have access to fewer goods in the market as a result of limitations on *foreign goods.

*Increase in prices .

*Consumers will need to pay more without seeing any significant improvement in the product.