______________ strategy is an economic development model in which a country establishes high tariffs to protect businesses setting up to manufacture goods that replace imports.

Question

Quizplus · Accepted Answer

The economic development model described in the question is known as import substitution industrialization (ISI). ISI is a strategy where a country attempts to establish a self-sufficient economy by promoting the development of domestic industries that can produce goods that were previously imported. This is achieved through the imposition of high tariffs and other trade barriers to protect domestic industries from foreign competition. The goal of ISI is to reduce a country's dependence on imports, promote local economic growth, and create employment opportunities for the local population.

______________ Strategy Is an Economic Development Model in Which a Country