Economics · Infant Industry Argument
According to the infant industry argument, the primary obstacles for a domestic industry to compete with established foreign firms are due to:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Lack of technical know-how and initial small scale of output✓
- 2Lack of policy flexibility and operational freedom
- 3Complete lack of domestic market demand
- 4Total absence of basic human resources
Correct answer
Lack of technical know-how and initial small scale of output
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