Import substitution is an example of ?
Correct answer: D. an inward-looking growth strategy
- A. the principle of comparative advantage
- B. the principle of absolute advantage
- C. an outward-looking growth strategy
- D. an inward-looking growth strategy
Explanation
Import substitution focuses on producing domestically what was previously imported, using barriers to reduce dependence on foreign goods. This makes it an inward-looking growth strategy.
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