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Industry & Trade, 1950–90 · Question 38 of 53

Question 38

MediumOriginal question

Read the two statements and choose the correct option.

I. Import substitution aimed to save foreign exchange.

II. Import substitution aimed to make India depend more on imported goods.

Options for question 38

Show the answer and explanation
CorrectNot quiteAnswer A

Correct answer: A

Explanation

  1. Making goods at home means paying less foreign currency for imports: I is true.

  2. It aimed at the opposite, self-reliance, so II is false.

Concept
Import substitution
Typical time
70 s
Your time
—
The rule this testsImport substitution, tariffs and quotas
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Ten questions from Industry & Trade, 1950–90, at your own pace.

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