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:

Colony Leaders

Individuals who played significant roles in the administration, settlement, and governance of colonies, especially during periods of exploration and colonization.

John Winthrop

A prominent Puritan leader and the first governor of the Massachusetts Bay Colony, remembered for his vision of the colony as a "city upon a hill," emphasizing a society governed by religious principles.

Civil Liberty

The rights of citizens to freedom of speech, privacy, and fair treatment under law, as protected by the constitution and other legal provisions.

Federal Liberty

The rights and freedoms guaranteed at a national level by a country's constitution or laws.