Restricting imports of products so that domestic producers will grow to meet demand is known as
A)import substitution.
B)neocolonialism.
C)dependency.
D)neoliberalism.

Question

Quizplus · Accepted Answer

This is because import substitution is a policy that seeks to encourage the growth of domestic industries by restricting imports of similar products. This often involves the imposition of tariffs or other trade barriers to make imported goods more expensive than locally-produced counterparts, thereby incentivizing consumers to purchase domestic products. This policy was often pursued by developing countries in the mid-twentieth century as a way to reduce their dependence on foreign goods and build up domestic industries.

Restricting Imports of Products So That Domestic Producers Will Grow