________ is a policy for economic growth adopted by many developing countries that involves the systematic encouragement of domestic production of goods formerly imported.
A)Internalization
B)Protectionist rights
C)Export substitution
D)Free trade
E)Import substitution

Question

Quizplus · Accepted Answer

Import substitution is a policy adopted by many developing countries to encourage economic growth through the production of goods that were previously imported. This policy involves replacing imported goods with domestically produced goods, thereby reducing reliance on foreign goods and promoting domestic industry. This policy is often implemented through protective trade barriers, subsidies, and other incentives for domestic producers.

________ Is a Policy for Economic Growth Adopted by Many