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

Question

Quizplus · Accepted Answer

Import substitution is a policy advocated by mercantilism, which seeks to promote economic growth and maintain a favorable balance of trade by limiting imports and promoting domestic production. It involves replacing foreign imports with domestically-produced goods to reduce dependence on foreign goods and improve the trade balance.

Import Substitution Is Most Closely Related to Which of the Following