Question

_______ refers to a trade policy aimed at reducing reliance on imported goods by encouraging domestic production.

• A. Export Promotion
• B. Export Substitution
• C. Import Substitution
• D. Import Proliferation

Hint:

Import substitution helps protect domestic industries and reduce foreign dependency.

Answer 1

The Correct Option is C

The correct answer is: (C) Import Substitution Import substitution is a strategy to promote domestic production by discouraging imports and encouraging self-reliance through policy support.