Import substitution is an example of
A) an inward-oriented growth strategy.
B) an outward-oriented growth strategy.
C) the principle of absolute advantage.
D) export led growth.

Question

Quizplus · Accepted Answer

Import substitution is a strategy of developing local industries to replace imported goods. This is an inward-oriented growth strategy where the focus is on domestic production rather than exports.

Import Substitution Is an Example of