Infant industries can be described as?

Assessment: WAEC SSCE - Economics - 2017 (Objective) Subject: Economics

Question 1 Report

Infant industries can be described as?

Answer Details
Infant industries can be described as newly established industries. An infant industry is a term used to describe a young and developing industry that is in its early stages of growth. These industries are often in need of support and protection in order to compete with more established industries. This support can come in the form of government subsidies, tax breaks, or other forms of assistance. The goal is to help these industries grow and mature, so that they can eventually compete on their own in the global market. In simple terms, an infant industry is a new and developing industry that needs support to grow and succeed.

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