The practice of restricting trade of an economy with other economies in order to allow domestic industries to flourish is called ___.

Open in App

Solution

Protectionism is the theory or practice of restricting trade of an economy with other economies in order to allow domestic industries to flourish.

Suggest Corrections

Similar questions

Integrating domestic economy with world economy is called ________.

Policy	Feature
1. Industrial Policy Resolution, 1956	Private sector is barred from managing industries
2. Industrial Policy Statement, 1980	Abolished the Monopolies Restrictive Trade Practices Act
3. New Industrial Policy, 1991	Declared Indian economy as mixed Economy

Join BYJU'S Learning Program