Economists Favor Export Promotion Over Import Substitution as a Policy

question 32

Multiple Choice

Economists favor export promotion over import substitution as a policy for economic growth because:

• A)it provides infant industries with a protected market.
• B)it favors replacing high-cost foreign goods with low-cost domestic goods.
• C)it improves the efficiency of foreign producers.
• D)it emphasizes comparative advantage and trade expansion.
• E)it emphasizes trade restrictions and helps provide a market for domestic goods.

Describe the principles of sustainable and environmentally responsible manufacturing practices.

Understand the role of technology in achieving competitive advantage and the types of technology used in different production processes.

Comprehend the impact of supply chain management on operational efficiency and how it contributes to competitive advantage.

Appreciate the continuous improvement processes in organizations and how they support operational excellence.

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Definitions:

Temperament

An individual's innate predisposition towards certain patterns of emotional reactivity and self-regulation, typically evident from early childhood.

Intellectual Abilities

The cognitive capacities of an individual, including memory, reasoning, problem-solving, and abstract thinking.

Emotions

Complex psychological states that involve physiological arousal, expressive behaviors, and conscious experience.

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society.