Question

A(n) to is any policy that is designed to reduce the competitiveness of foreign producers that wish to sell their goods or services in the domestic market.

Answer 1

A protectionism policy is any policy that is designed to reduce the competitiveness of foreign producers in the domestic market.

The protectionism policy helps to protect the domestic industries against the foreign competition through various means methods including

• Imposition of tariffs
• Subsidies
• Import quotas
• Trade restrictions.

The policy of protectionism are determined by the Federal government of the country to help reduce the importation or competitiveness of foreign company in the country's market.

In conclusion, the policy is known as a protectionism policy.

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