protection (1 Viewer)

[moo_moo_molly]

Describe two economic effects that the protection of domestic markets on global trade.

I've got no Idea... please help... thanks!

 

[Always]

^ That question doesn't make sense. Do you mean the economic effects of global trade, or the effects of protection on global trade?

 

[Riviet]

Describe two economic effects that the protection of domestic markets [have] on global trade.

I think that was the intended question.

edit: it still doesn't make sense...

While all forms of protection have different impacts, they all have the general effect of distorting resource allocation and the restriction of global trade. As the theory of comparative advantage would suggest, protection policies reduces living standards in the global economy.

 

[gnrlies]

protectionism = bad

 

[moo_moo_molly]

Describe two economic effects that the protection of domestic markets [HAVE] on global trade.

I think that was the intended question.

edit: it still doesn't make sense...

While all forms of protection have different impacts, they all have the general effect of distorting resource allocation and the restriction of global trade. As the theory of comparative advantage would suggest, protection policies reduces living standards in the global economy.

Yeah sorry that was supposed to be the question... Thanks for trying to answer my non-sensical question guys!