Question

Which of the following is not an argument in favour of protectionism

Answer 1

Answer:

where are the options or something else

Answer 2

To reduce prices paid by domestic consumers

Explanation:

• Argument in favour of protectionism is nothing but to safeguard domestic employment like protectionist polices which reduces import penetration.
• From genuine competition, import tariffs specifically push up prices for consumers and insulate inefficient domestic sectors from genuine competition and that they also penalise foreign producers which encourage an inefficient allocation of resources, both domestically and globally.
• People argue that protectionism shelters workers in industries will be hurted by foreign competition which provides new industries time, practice to become efficient producers, and also protects certain industries from foreign competition.