Which of the following is one of the advantages of export-oriented industrialization?
A)It overcomes the smallness of the domestic market and allows a developing nation to take advantage of economies of scale
B)The market for the industrial product exists domestically,as evidenced by imports of the commodity,so that risks are reduced in setting up an industry to replace imports
C)It is easier for developing nations to protect their domestic market against foreign competition than to force developed nations to lower trade barriers against their manufactured exports
D)Foreign firms are induced to establish so-called tariff factories to overcome the tariff wall of developing nations

Question

Quizplus · Accepted Answer

Export-oriented industrialization allows a developing nation to access a larger market and benefit from economies of scale. By focusing on exports, the country can produce goods in larger quantities, which can lead to lower costs and increased competitiveness. This is particularly advantageous for countries with small domestic markets.

Which of the Following Is One of the Advantages of Export-Oriented