What is a common practice of protectionism?

The selection of tariffs and import quotas as a common practice of protectionism is correct because these measures are specifically designed to shield domestic industries from foreign competition.

Tariffs are taxes imposed on imported goods, making them more expensive compared to locally produced products. This encourages consumers to buy domestic products rather than imports, thereby protecting local businesses and jobs. Import quotas, on the other hand, set a limit on the quantity of a specific good that can be imported during a given timeframe. By restricting the supply of foreign goods, import quotas can help local firms maintain a larger market share and stability within their industries.

Both tariffs and quotas serve the primary purpose of reducing foreign competition and promoting local economic interests, which are fundamental goals of protectionist policies. In contrast, government assistance programs may provide support to local businesses, but they do not inherently restrict foreign competition. Free trade agreements and international collaborations promote trade and economic cooperation, which directly oppose the principles of protectionism.