The Substitution of Traditional Imports by Increasing Domestic Industrial Production

question 57

Multiple Choice

The substitution of traditional imports by increasing domestic industrial production in Latin America began to fail in the 1960s because

• A)they often lacked sufficient labor to allow them to compete with foreign manufacturers.
• B)Japan refused to buy any goods from countries using import-substitution.
• C)domestic markets were too small and countries were unable to find enough foreign buyers.
• D)United States firms effectively stifled attempts to establish industry in Latin America.
• E)foreign capital costs and a welter of other, highly technical problems fatally weakened attempts to expand Latin American industry.

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Definitions:

Goal

A desired outcome or target that an individual or group aims to achieve, often requiring planning and effort to attain.

Systematically Varied

Altered or adjusted in a methodical manner to observe changes under different conditions.

Action Sequences

A series of actions or steps taken in order to achieve a particular end, often observed in task performance or behavior analysis.

Tertiary

Pertains to the third in order, level, or stage, often used in education (tertiary education refers to post-secondary education) or in describing stages of economic activities.