The primary objective of inward-oriented strategies is:
A)to raise government revenue through tariffs and other import taxes.
B)to lower the domestic price of imports.
C)to replace imported manufactured goods with domestic goods.
D)to encourage imports through reduction of tariff and non-tariff barriers.
E)to encourage the production of those goods in which the country has a comparative advantage.

Question

Quizplus · Accepted Answer

Inward-oriented strategies aim to replace imported manufactured goods with domestically produced goods. This can be achieved by implementing policies such as tariffs, quotas, and subsidies to protect domestic industries and promote their growth. The objective is to reduce dependence on foreign goods and improve the trade balance. The other options are not the primary objective of inward-oriented strategies.

The Primary Objective of Inward-Oriented Strategies Is