Which term refers to the strategy of producing domestically those goods that a country has been importing?
A)Import substitution
B)Export promotion
C)Terms of trade
D)Late development

Question

Quizplus · Accepted Answer

Import substitution is the economic strategy aimed at producing domestically the goods that a country has previously been importing, with the goal of reducing foreign dependency and improving local industries.

Which Term Refers to the Strategy of Producing Domestically Those