The import-substitution strategy of industrialization is to encourage

The import-substitution strategy of industrialization is to encourage
  • A.
    domestic production
  • B.
    large-scale production
  • C.
    importation
  • D.
    exportation
Correct Answer: Option A
Explanation

Import substitution, also referred to as import substitution industrialization (ISI), is a set of policies that addresses the developmental concerns of structurally deficient economic countries. As the name suggests, the ultimate goal of ISI is to promote a country’s economic industrialization by encouraging domestic production and discouraging imports of consumer goods.

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