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Industrial Policy: Government policies which are aimed at fostering the domestic development of particular desirable or productive industries, in order to enhance productivity, create higher-paid jobs, and boost international trade performance. Tools of industrial policy can include measures to stimulate investment in targeted industries; trade policies (like tariffs, limits on imports orexport incentives); and technology policies.
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How are the limitations of the economics theory affected? Limitation of Economic Theory: While examining the generality of an economic theory, one must realize any assump
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