Which Trade Strategy Have Developing Countries Used to Restrict Imports

question 130

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:

Statistical Probability

The likelihood of an event occurring, measured on a scale from 0 to 1, where 0 means the event cannot happen and 1 means it will certainly happen.

Clinically Significant

A degree of significance in medical findings or outcomes that indicates an important change, especially in the diagnosis or treatment of a condition.

Socioeconomic Group

A categorization of people according to their economic and social position, often based on income, education, and occupation.

Culture

The collective manifestations of human intellectual achievement regarded collectively, encompassing language, customs, beliefs, and institutions.