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Which of the following is true about import substitution? it

Economics
WAEC 2012

Which of the following is true about import substitution? it

  • A. helps in increasing exportation
  • B. is meant to reduce exportation
  • C. enables a country to curtail importation
  • D. enables a country to improve on importation
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Correct Answer: Option C
Explanation

Import substitution is a policy advocating for replacing foreign imports with domestic production. It is aimed at reducing the importation of foreign goods.

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