Answer to Question #118206 in Economics for Tshishonga Mpfumiseni

Question

Importance of protecting local industries in South Africa

Answer 1

There are several reasons to protect local industries in South Africa:

1) they provide competition in prices and quality of goods on the local market, so, locals can choose products, which match their incomes, needs and traditions;

2) local industries contribute to the employment of the locals, that is why residents don't need to move to other countries for work;

3) local enterprises pay taxes to the South African budget and support it in such way.