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Chapter 34: Q. 27. (page 832)

What are main reasons for protecting 鈥渋nfant industries鈥�? Why is it difficult to stop protecting them?

Short Answer

Expert verified

It is difficult to stop protecting them because the infant industries now totally depend on the government policies, so when the government repeat the protection, it may result into loss of jobs, crushed of the new industries etc.

Step by step solution

01

Step 1. Meaning of infant industry.

A newly established industry which is in its early stages of development. Therefore, infant industry lack experience and size to compete effectively against established competitors abroad.

02

Step 2. Main reasons behind the protection of infant industries.

a) Infant industries need some time to develop, become efficient and be profitable.

b) It is done so to protect the new industry by the developed industries show that it could not be crushed by competition before it has a chance to develop a valuable new product or technology.

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