select all the correct answers. why do nations practice protectionism? to prevent loss of jobs and…

select all the correct answers. why do nations practice protectionism? to prevent loss of jobs and livelihoods to improve relations with other nations to encourage growth of new industries to give consumers more choices to retaliate against unfair trade practices

select all the correct answers. why do nations practice protectionism? to prevent loss of jobs and livelihoods to improve relations with other nations to encourage growth of new industries to give consumers more choices to retaliate against unfair trade practices

Answer

Brief Explanations:

Protectionism aims to safeguard domestic industries. Preventing job - losses helps the domestic workforce. Encouraging new industry growth supports economic development. Retaliating against unfair trade practices levels the playing field. It generally does not improve relations (as it restricts trade) and does not give consumers more choices (limits imports).

Answer:

  • to prevent loss of jobs and livelihoods
  • to encourage growth of new industries
  • to retaliate against unfair trade practices