Protection from imports in the early plans was also meant to

save foreign exchange for essential importsCorrect answerYour answerraise the prices of exportsCorrect answerYour answerlower the wages of factory workersCorrect answerYour answerend trade with BritainCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

Foreign exchange was scarce; cutting imports of things India could make saved it for machinery and other essentials.

Concept: Foreign exchange
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsImport substitution, tariffs and quotas

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Ten questions from Industry & Trade, 1950–90, at your own pace.

Practise this chapter →

Ten questions from Industry & Trade, 1950–90, at your own pace.

Practise this chapter All 53 questions in Industry & Trade, 1950–90 Revise the notes for Industry & Trade, 1950–90

Protection from imports in the early plans was also meant to

Explanation