Import substitution means

importing more to replace goods made at homeCorrect answerYour answerproducing at home the goods that were being importedCorrect answerYour answerexporting goods in exchange for other goodsCorrect answerYour answerremoving all taxes on imported goodsCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer B

Correct answer: B

For example, making vehicles in India instead of importing them.

Concept: Import substitution
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsImport substitution, tariffs and quotas

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Import substitution means

Explanation