Questions: leads to less imported goods and services; its reasoning rests with the hope that domestic producers are given a better opportunity to survive and grow, which eventually leads to more local jobs. A common market International trade Trade protectionism Economic protection

leads to less imported goods and services; its reasoning rests with the hope that domestic producers are given a better opportunity to survive and grow, which eventually leads to more local jobs. A common market International trade Trade protectionism Economic protection
Transcript text: $\qquad$ leads to less imported goods and services; its reasoning rests with the hope that domestic producers are given a better opportunity to survive and grow, which eventually leads to more local jobs. A common market International trade Trade protectionism Economic protection
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Solution

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The answer is Trade protectionism: leads to less imported goods and services; its reasoning rests with the hope that domestic producers are given a better opportunity to survive and grow, which eventually leads to more local jobs.

Explanation for each option:

  1. A common market: This is incorrect. A common market refers to a group of countries that have eliminated tariffs and other trade barriers among themselves, allowing for the free movement of goods, services, capital, and labor. It does not lead to less imported goods; rather, it encourages trade among member countries.

  2. International trade: This is incorrect. International trade involves the exchange of goods and services between countries. It typically leads to more imported goods and services, not less, as countries trade to benefit from comparative advantages.

  3. Trade protectionism: This is correct. Trade protectionism involves implementing policies such as tariffs, quotas, and subsidies to restrict imports and protect domestic industries. The goal is to reduce foreign competition, allowing domestic producers to thrive, which can lead to more local jobs.

  4. Economic protection: This is incorrect. While similar in name to trade protectionism, "economic protection" is not a standard term in economics. It might be confused with protectionist policies, but it is not specifically defined as such. The correct term for the concept described is trade protectionism.

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