A Strategy of Restricting Imports and Substituting Domestic Production of Those

question 28

Multiple Choice

A strategy of restricting imports and substituting domestic production of those goods is called

• A) trade restraint strategy.
• B) import substitution strategy.
• C) trade blockage strategy.
• D) export substitution strategy.

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Definitions:

Descriptive Statistics

Statistical methods that summarize and organize the properties of a set of data.

Summarise and Organise Data

The process of simplifying and arranging collected information or data into a structured form, typically to make it more accessible or easier to understand for analysis or presentation.

Inferential Statistics

A branch of statistics that allows one to make predictions or inferences about a population based on a sample of data.

Extreme Scores

Values on a measurement scale that are significantly higher or lower than the majority of scores.