International trade organizations promote free trade by encouraging countries to a. maintain their tariffs. b. establish their trade quotas. c. limit their protectionism policies. d. develop their products.

The answer is: c.limit their protectionism policies.

Protectionism policies refers to the type of regulations that being done to protect local products from the foreign competitors. Limiting protectionism policies could be done by reducing the tariff for foreign product and eliminating quota for foreign product.

The correct option is (c) Limit their protectionism policies.

Further Explanation:  

Protectionism is a policy of protection of domestic industries against foreign competition by various things like tariffs, subsidies. Many countries implement protectionist policies whereas economist agrees that the world economy will be benefited only through free trade. The chief measures of protection policies are levied by the government.  It raises the price of the imported article making it more expensive than the domestic products. The protective tariffs stimulate industries in the country beset by depression. Every industry fosters Self-Sufficiency. Import Quotas are another form and means of protectionism. These Quotas set the absolute limit to the number of goods being imported to the country and is more effective than tariff policy. The Europeans always favored protectionist policies in an attempt of increasing free trade. They built their economies at the expense of other nations. This is known as Mercantilism. The great depression in 1930 saw the record level of unemployment. World trade falls drastically.  The United States has a long history of protectionism with the tariffs reaching to high points in the 1820s. Average tariffs on the goods are raised to 20%. WTO negotiations have reduced customs tariffs.

Learn more:

1. In which system of government would states function independently of each other?

2. In McCulloch v. Maryland, what did the state of Maryland argue?

Answer Details:

Grade: High School

Subject: Social Science

Chapter: International Trade Organization

Keywords: Domestic industries, foreign competition, tariffs, protectionist policies, import quotas, 20%, customs tariffs.

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