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 an absolute advantage.

Question

Quizplus · Accepted Answer

Inward-oriented strategies aim to replace imported manufactured goods with domestic goods, as the primary objective is to promote domestic industries and decrease reliance on foreign imports. This can be achieved through a range of policies, including import tariffs, subsidies for domestic producers, and regulations that favor domestic products. By encouraging the growth of domestic industries, countries hope to create jobs, increase economic growth, and improve their trade balance.

The Primary Objective of Inward-Oriented Strategies Is