When a Developing Country Relies on Import Substitution,_____

question 44

Multiple Choice

When a developing country relies on import substitution,_____.

• A)it capitalizes on the gains from specialization and comparative advantage
• B)it replaces high-cost domestic goods with low-cost foreign goods
• C)domestic producers,shielded from foreign competition,usually become more efficient
• D)other countries often retaliate with their own trade restrictions
• E)it concentrates on producing only for the international market

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Definitions:

Organizational Structures

The systems of hierarchy and arrangement of job roles, responsibilities, and communication pathways within a company or institution.

Continuous Process Improvement

The ongoing effort to improve products, services, or processes through incremental and breakthrough improvements.

Japanese Management

A unique style of corporate management originating in Japan, emphasizing consensus, long-term employment, slow decision-making processes, and strong loyalty to the company.

Narrow Job Classifications

The practice of defining job roles and responsibilities in a highly specific and restricted manner.