Which of the following is a method that indicates a country’s protection of its economy?

Protectionism is a method that indicates a country’s efforts to protect its own economy from foreign competition. It encompasses a range of policies and strategies that governments implement to limit or regulate international trade, thereby sheltering domestic industries from external competition.

By focusing on the principles of protectionism, countries can promote local businesses, maintain jobs, and reduce trade deficits. This approach might involve imposing tariffs, import quotas, or other restrictions that make foreign goods less competitive compared to domestic products.

In contrast, the other choices, such as trading blocks, import tariffs, and export subsidies, are all concepts that can be part of a protectionist strategy, but they do not encompass the broader idea of protectionism itself. Trading blocks refer to agreements between countries to facilitate trade among themselves, import tariffs are specific tools used within protectionism, and export subsidies are financial support to local businesses to help them sell more abroad. While these concepts are related to protecting a country’s economy, they are components or mechanisms rather than the overarching strategy that protectionism represents.