How Does Import Substitution Compare with Export-Led Growth

question 29

Multiple Choice

How does import substitution compare with export-led growth?

• A)Import substitution is effective in later phases of economic development,whereas export-led growth is effective in all phases of economic development.
• B)Import substitution works best when the local industry is a service industry,whereas export-led growth works best when the exports are raw materials.
• C)Import substitution has proven effective where it has been used,whereas export-led growth has had limited success.
• D)Import substitution seeks to develop local industries to produce items that the country had been importing,whereas export-led growth seeks to develop local industries that can compete in specific niches in the world economy.

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Definitions:

Germanium

A chemical element with the symbol Ge and atomic number 32, a metalloid used in semiconductors and fiber optics.

Neutrons

Neutral particles found within an atom's nucleus, not possessing any electric charge and contributing to the atom's mass.

Cobalt

A chemical element with symbol Co, known for its magnetic properties and used in alloys, batteries, and as a pigment.

Isotope

Variants of a particular chemical element that differ in neutron number, and consequently in nucleon number, but not in proton number.