Import substitution is most closely related to which of the following political-economic systems?
A) social democracy
B) mercantilism
C) liberalism
D) communism

Question

Quizplus · Accepted Answer

Import substitution is an economic policy that aims to increase domestic production and consumption of goods by substituting imported goods with domestic ones. This ideology is closely associated with mercantilism, which prioritizes exports and acquiring wealth through trade surpluses.

Import Substitution Is Most Closely Related to Which of the Following