Which of the following is true for the self-sufficiency path to development?
A) The government reduces taxes and tariffs and increases import quotas.
B) There is an attempt to focus on a few disruptive technologies.
C) Unprofitable private companies can be nursed to success because of isolation from competition from large international companies.
D) Rapid economic growth is expected.
E) Globally competitive products will be produced.

Question

Quizplus · Accepted Answer

The self-sufficiency path to development focuses on protecting domestic industries from international competition. This means that unprofitable private companies can be given support to grow and eventually become successful because they are isolated from competition from large international companies. The goal is not necessarily rapid economic growth or the production of globally competitive products, but rather achieving self-sufficiency within the domestic economy. There may also be less emphasis on reducing taxes and tariffs and increasing import quotas compared to other development paths. There is no mention of a focus on a few disruptive technologies.

Which of the Following Is True for the Self-Sufficiency Path