Import substitution is an important strategy for economic growth because
A) domestic (local) production is supported.
B) all imports are able to compete on a level playing field.
C) consumers pay less for imported goods.
D) import processing zones function as engines of economic development.
E) it increases the reliance of peripheral countries on core ones.

Question

Quizplus · Accepted Answer

Import substitution encourages domestic production and reduces reliance on foreign imports, supporting domestic industries and creating jobs. This can lead to economic growth as the domestic economy becomes more self-sufficient and less vulnerable to external factors.

Import Substitution Is an Important Strategy for Economic Growth Because