What Is Import Substitution

question 66

Multiple Choice

What is import substitution?

• A) The replacement of foreign-produced manufactured goods with domestically-produced manufactured goods.
• B) The replacement of foreign-produced manufactured goods with less expensive foreign-produced manufactured goods.
• C) A government effort to expand a country's imports by increasing incentives and decreasing disincentives.
• D) A government attempt to develop synthetic substitutes for goods that they normally import.

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Definitions:

Accounts Receivable Turnover

A financial ratio that measures how effectively a company manages credit extended to its customers by calculating the number of times receivables are collected during a period.