Domestic Industry can be best protected in A. Any economy B. Open economy C. Closed Economy D. Capitalist economy
Question
Domestic Industry can be best protected in A. Any economy B. Open economy C. Closed Economy D. Capitalist economy
Solution
The domestic industry can be best protected in a Closed Economy. In a closed economy, the country does not trade with other countries, which means domestic industries are protected from foreign competition. This can help the domestic industry to grow and develop. However, it's important to note that this can also lead to inefficiencies and higher prices for consumers.
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