Advantages of trade restrictions
Answer Text: Advantages of trade restrictions:-It promotes self reliance as industries have an opportunity to engage in the production of goods and services that were previously imported-It protects the local industries from stiff competition that they may have faced from the well developed countries-It may help to correct the balance of payment deficit-It restrict the entry of harmful goods into the country as it controls the inflow of imports in to the country-It enables the country to conserve their valuable social and cultural values from the external influence-It help in creating more job opportunities through diversification in the production-It promotes the growth of local/infant industries in the country.
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