Infant industries are industries that

Assessment: WAEC SSCE - Economics - 1999 (Objective) Subject: Economics

Question 1 Report

Infant industries are industries that
Answer Details
Infant industries are industries that are in their early stage of production and need protection from foreign competition. They are usually new and still developing, with high start-up costs and limited resources. The protection can be in the form of tariffs, subsidies, or other trade barriers, aimed at allowing the infant industries to develop and become competitive before they face full international competition. The idea is that once these industries are established and competitive, they will be able to stand on their own and contribute to the economic growth of the country. The concept of infant industries is often used in developing countries that are trying to promote domestic industries and reduce their reliance on imports.

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