Which Trade Strategy Have Developing Countries Used to Restrict Imports

question 85

Multiple Choice

Which trade strategy have developing countries used to restrict imports of manufactured goods so that the domestic market is preserved for home producers, who thus can take over markets already established in the country?

• A) international commodity agreement
• B) export promotion
• C) multilateral contract
• D) import substitution

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Definitions:

Third Sector

Refers to the part of an economy or society that is composed of non-governmental and non-profit organizations or associations, including charities, volunteer services, and non-profit organizations.

Nonprofit Organizations

Nonprofit organizations are entities that are dedicated to furthering a particular social cause or advocating for a shared point of interest, without seeking profit for their owners or organizers.

Paris Agreement

An international treaty adopted in 2015 aimed at addressing climate change by reducing greenhouse gas emissions and limiting global warming.

Transnational Corporations

Large companies that operate and have assets in more than one country, having a significant influence on global economics and politics.