After a Policy of Import Substitution Has Begun,a Developing Country

question 45

Essay

After a policy of import substitution has begun,a developing country finds that employment has not risen significantly and that urban unemployment seems to be rising.Explain how these developments might be connected.

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Definitions:

Standard

A recognized level of quality or attainment that is used as a benchmark for comparison.

Materials Quantity Variance

The difference between the expected amount of materials needed for production and the actual amount used, affecting production costs.

Standard

Typically refers to an accepted level of quality or achievement that is used as a measure, norm, or model in comparative evaluations.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a specific product and are an integral part of the finished product.