Explain the reasons why a country might wish to restrict imports. [10 marks]
Chapter: International Trade - Protectionism
There are many reasons why a government may choose to restrict its imports, which refers to trade protectionism. As such, this question will analyse different arguments, such as the 'infant industry' and 'strategic industry' arguments, that will support the justification for the use of import-substitution strategies.
07 August 2018