An economic strategy that focuses on domestic industries for the purpose of discouraging imports is called
A)export-led industrialization.
B)dependent development.
C)dualism.
D)imperialism.
E)import-substitution industrialization.

Question

Quizplus · Accepted Answer

Import-substitution industrialization is the economic strategy that focuses on promoting domestic industries and discouraging imports. This strategy aims to reduce the dependency on foreign countries for goods and services and instead encourages the development of local industries that can meet the demand of the population. This strategy was widely used by developing countries in the mid-20th century to promote industrialization and self-sufficiency.

An Economic Strategy That Focuses on Domestic Industries for the Purpose