Import Substitution Is the Only Strategy Used by Developing Countries

question 7

True/False

Import substitution is the only strategy used by developing countries to develop their manufacturing industries.

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Definitions:

Art Of Negotiation

The skillful practice of reaching mutually beneficial agreements or resolving disputes, involving techniques such as persuasion, strategic planning, and compromise.

Large Businesses

Corporations or enterprises that operate on a vast scale, often with extensive resources, employees, and market reach.

Small Ones

Refers to items, entities, or units that are lesser in size, quantity, or significance.

Maslow's Hierarchy

A psychological theory proposing that human needs are arranged in a hierarchy, from basic physical needs to complex self-fulfillment needs.