WAEC Economics 2015 Theory — Question 12

Model answer

(i) To promote local production so as not to remain dependent on foreign products. (ii) To help create healthy competition in the economy over time as the industry matures. (iii) To reduce unemployment, because if infant industries fail, their workers will join the already large unemployed workforce. (iv) To attract foreign investment into the economy, since investors will see the local industries are protected and may prefer to invest in the country.