Assertion (A): Import substitution was an outward-looking trade strategy.
Reason (R): Import substitution relied on tariffs and quotas.

Both A and R are true, and R is the correct explanation of A.Correct answerYour answerBoth A and R are true, but R is not the correct explanation of A.Correct answerYour answerA is true, but R is false.Correct answerYour answerA is false, but R is true.Correct answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer D

Correct answer: D

It looked inward, to the home market, so A is false.
R is true.

Concept: Inward-looking strategy
Typical timeTypical: 100 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.

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

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Assertion (A): Import substitution was an outward-looking trade strategy.Reason (R): Import substitution relied on tariffs and quotas.

Explanation

Assertion (A): Import substitution was an outward-looking trade strategy.
Reason (R): Import substitution relied on tariffs and quotas.