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In order to discourage the importation of manufactured goods, a country should adopt

Economics
WAEC 2020

In order to discourage the importation of manufactured goods, a country should adopt

  • A. import promotion strategy
  • B. export led strategy
  • C. liberal foreign exchange
  • D. import substitution strategy
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Correct Answer: Option D
Explanation

Import substitution industrialization is the idea that blocking imports of manufactured goods can help an economy by increasing the demand for domestically produced goods.

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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Join your school's WhatsApp group
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts