What Is Import Substituting Industrialization (ISI)

question 55

Multiple Choice

What is import substituting industrialization (ISI) ?

• A)A policy of importing goods that are necessary for promoting industrialization.
• B)A policy of promoting industrialization to replace foreign goods with domestically produced goods.
• C)A policy of encouraging free trade as a means of industrializing quickly.
• D)A policy of encouraging the use of alternative resources necessary to fuel industrialization.
• E)A government policy of obtaining foreign technology as a means of encouraging industrialization.

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Definitions:

Assess Performance

The process of systematically evaluating or measuring an individual's, team's, or company's performance against set standards or objectives.

Typical Question

A common or standard inquiry that is often asked in various contexts to gather information or clarify understanding.

Consumer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount they do pay.

Tax

A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures.