Question on: JAMB Economics - 2002
Import substitution aims at?
A
substituting agricultural products with industrial ones
B
substituting imports with agricultural exports
C
the diversification of industries
D
improving the balance of payments
Ask EduPadi AI for a detailed answer
Correct Option: B
Import substitution aims to replace imported goods with domestically produced goods. The goal is to diversify industries within a country, reducing reliance on foreign products and promoting local production.
Add your answer
Please share this, thanks!
No responses