To follow an outward-oriented strategy, a country that has scarce natural resources and abundant labor supplies should _____.
A)export primary goods and import manufactured products
B)export manufactured goods and impose import restrictions on primary goods
C)export both primary and manufactured products
D)export primary goods and impose trade restrictions on manufactured goods
E)export manufactured products and import primary goods

Question

Quizplus · Accepted Answer

An outward-oriented strategy focuses on integrating into the global market. A country with scarce natural resources and abundant labor should export manufactured products, leveraging its labor advantage, and import primary goods that it lacks.

To Follow an Outward-Oriented Strategy, a Country That Has Scarce