Which of the Following Best Describes the Economic Strategy Adopted

question 19

Multiple Choice

Which of the following best describes the economic strategy adopted by the ANC in 1996?

• A) liberal market policies domestically,but with high tariff barriers and a rejection of international investment
• B) liberal macroeconomic structural adjustment with greater limits to the role of the state
• C) mildly mercantilist,with a focus on import substitution industrialization
• D) strongly socialist policies with an expanding welfare state

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Definitions:

Income Distribution

The way in which a nation’s total GDP is distributed amongst its population, affecting economic inequality.

Purchasing Power

The ability of consumers or businesses to buy goods and services, often influenced by income levels, inflation, and economic conditions.

Indirect Competition

A process in which products provide alternative solutions to the same market.

Beverage Industry

A sector that specifically focuses on the production and distribution of drinks, including both alcoholic and non-alcoholic beverages.