What Is Import Substitution

question 139

Multiple Choice

What is import substitution?

• A) a policy that encourages domestic industry by imposing high tariffs on all imports
• B) a policy that substitutes imports for domestic products
• C) a policy of choosing among imports from several different countries
• D) a policy in which a country negotiates to have its products imported by international trade partners
• E) an international trade policy for members of the Latin American Free Trade Association

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Definitions:

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Express Disclaimer

A clear and unequivocal statement ensuring that certain facts or rights are not implied from a document or statement.