STEPS TO WRITE ESSAY 💡MAIN POINTS💡OVERVIEW

Title: The Importance of Protecting Infant Industries in Economic Development

I. Introduction
A. Definition of an infant industry
B. Importance of protecting infant industries
C. Thesis statement

II. Reasons why an infant industry may need protection
A. New industries need time to grow and establish themselves
B. Lack of resources
C. Need time to take advantage of economies of scale
D. Competition with foreign firms
E. Lower costs may reduce price the infant industry can charge
F. Foreign firms may drive the infant industry out of business

III. Benefits of protecting infant industries
A. Increase in employment
B. Reduction in imports and increase in exports
C. Promotion of domestic products
D. Increase in economic growth