i. Provide a clear explanation of protectionism in the context of international trade(Two terminologies).ii. Using your knowledge & MYP experience, Demonstrates and Explain a thorough understanding of various forms (Two) of protectionism and their impacts on domestic industries and global trade.A

What is the definition of trade protectionism?Multiple choice question.The use of government regulations to expand free tradeThe use of government regulations to limit the import of goods and servicesA limit on the number of products in certain categories that a nation can importA tax imposed on imports

What is protectionism?Group of answer choicesthe creation of alliances to ward off threats to a countryexcessive worry about attacks from other countriesthe use of conscious measures to shield domestic producers from importsthe use of free trade to improve the efficiency of domestic producer

Economic Globalization is associated with protectionism where a government encourages domestic production and discriminating foreign investors.

hat do protectionist measures involve?*Promoting trading with foreign businesses through the use of tariffs on local productsPromoting trading with local businesses through the use of tariffs on importsRequiring private businesses to pay additional taxes

Despite the benefits of free trade, there has been a recent increase in protectionism by some developed and developing economies. Discuss the possible reasons for this increase.