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:

In-store Promotion

Marketing strategies used within a retail environment to attract customers to specific products or offers.

Marketing

The process of promoting, selling, and distributing a product or service, encompassing market research, advertising, and sales strategies.

Higher Esteem Needs

Refers to the fourth level in Maslow's hierarchy of needs, focusing on respect, self-esteem, status, recognition, and freedom.

Status

The relative social, professional, or other standing of someone or something, which can be indicated by various factors including wealth, authority, and achievement.