The import substitution type of industrialization has the purpose of importing goods to prevent the high costs of local production.

Name: The import substitution type of industrialization has the purpose of importing goods to prevent the high costs of local production.
Brand: Quizplus
Rating: 4.9 (44 reviews)

Question

Quizplus · Accepted Answer

Import substitution industrialization aims to reduce a country's dependence on imports by developing local industries to produce goods domestically, rather than importing them.

The Import Substitution Type of Industrialization Has the Purpose of Importing