An import substitution policy uses ____________ to develop local manufacturing of goods to replace imported manufacturing goods.

Question

Quizplus · Accepted Answer

An import substitution policy aims to promote local manufacturing and reduce dependence on imports. Trade protection measures such as tariffs, quotas, and subsidies are used to make imports more expensive and less competitive, while domestic industries receive support and incentives to develop their production capabilities.

An Import Substitution Policy Uses ____________ to Develop Local Manufacturing