Activity 3: Formative Assessment
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- Which of the following is a harmful result of protectionism?
- protection of workers’ jobs
- protection of “infant industries”
- protection of inefficient industries
- protection of national security
- Which of these trade organizations appeared first in the global marketplace?
- the European Union
- the World Trade Organization
- the Mercosur Agreement
- the Nafta Agreement
- Which of the following is NOT a negative effect of trade barriers?
- supply is limited
- increased prices for foreign goods
- trade wars
- demand increases for domestic goods
- Create a scenario in which protecting or failing to protect a particular domestic industry could impact national security.