What Is the Advantage of a Policy of Import Substitution

question 2

Multiple Choice

What is the advantage of a policy of import substitution?

• A)setting up an industry to replace imports minimizes risk of failure because the market for the product already exists in the nation as evidenced by the nation's imports of the commodity
• B)It is easier for developing nations to protect their domestic market against foreign competition than to force developed nations to lower their trade barriers against their manufactured exports
• C)foreign firms are induced to establish tariff factories to overcome the tariff wall of developing nations
• D)all of the above.

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Definitions:

Late Binding

In object-oriented programming, the process where a method call is resolved at runtime rather than compile time, enabling polymorphism.

Methods Marked

Functions within a class that have been identified or annotated for special processing or behavior, often through annotations.

Final

A keyword in many programming languages used to declare a constant value or to prevent method overriding or inheritance of a class.

Static

In programming, a keyword used to declare variables or methods that belong to the class, rather than any instance of it.