Which term refers to restricting imports in order to boost domestic production and consumption of goods that would otherwise be imported?
A)import substitution
B)terms-of-trade
C)most-favored nation
D)in-sourcing

Question

Quizplus · Accepted Answer

Import substitution involves restricting imports in order to promote domestic production and consumption of goods that would otherwise be imported. This is often done in order to protect domestic industries and reduce reliance on foreign products.

Which Term Refers to Restricting Imports in Order to Boost