Question

Why do nations practice protectionism?

Answer 1

By getting government to impose import restrictions, producers get higher prices without having to improve their competitiveness. Protectionism is achieved by governments imposing the laws that restrict imports, including tariffs on imported goods, restrictive quotas, and a variety of other government regulations.

Step-by-step explanation:

Answer 2

If you are taking the Plato test: Nations practice protectionism to prevent loss of jobs and livelihoods, to encourage growth of new industries and to retaliate against unfair trade practices.