Which of the Following Is a Reason Why Import Substitution

question 31

Multiple Choice

Which of the following is a reason why import substitution is popular?  

• A) There was never any demand for the products in question. 
• B) Infant industries would have to compete against global rivals. 
• C) It benefits suppliers to the favoured domestic industries. 
• D) It slows down the progression through the production chain.

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Definitions:

Binomial Random Variable

A type of random variable that takes on a fixed number of possible outcomes, with each outcome having a constant probability of occurrence in each independent trial.

Normal Curve

A symmetric, bell-shaped curve representing the distribution of a set of data where most occurrences take place near the mean and probabilities for values taper off equally on both sides.

Continuity Correction

An adjustment made when approximating a discrete distribution with a continuous distribution.

Normal Approximation

A method of estimating the distribution of a sample statistic using the normal distribution, often applied when the sample size is large.