Economists Favor Export Promotion Over Import Substitution as a Policy

question 32

Multiple Choice

Economists favor export promotion over import substitution as a policy for economic growth because:

• A)it provides infant industries with a protected market.
• B)it favors replacing high-cost foreign goods with low-cost domestic goods.
• C)it improves the efficiency of foreign producers.
• D)it emphasizes comparative advantage and trade expansion.
• E)it emphasizes trade restrictions and helps provide a market for domestic goods.

Understand the concept and critical importance of innovation within organizations.

Identify the stages and processes involved in innovation.

Recognize the significance of motivation in the innovation process.

Comprehend the complexities of open innovation and its implications for organizational strategy.

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Definitions:

Customer Demand

The amount of a product or service that buyers are prepared and can afford to buy at a certain price.

Coordination

The method of coordinating individuals or teams to ensure they collaborate effectively and efficiently.

M-Form Organization

A structure for managing a diversified company by operating separate divisions in distinct markets or industries, each with its own management team.

Customer Demand

The desires and needs of consumers for products and services, which can vary in quantity and over time.