The trade policy which advocated domestic production of goods in order to reduce foreign-dependence is called:

Import Quota

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Import tariff

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Import substitution

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Import duty

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Solution

The correct option is C
Import substitution

This policy is called import substitution.

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Similar questions

The trade and economic policy of replacing foreign imports with domestic production is called ___ industrialisation.

Q. Importing refers to bringing goods from domestic country to foreign country.

Q. Duties are tariffs levied on imported goods to offset subsidies made to producers of these goods in the exporting country.

Q. Which of the following refers to trade barrier in the context of WTO?
I. Restrictions on domestic trade.
II. Not allowing companies to do foreign trade beyond specific quantity.
III. Restrictions on the export and import of goods.

Statement: The companies that showed relatively high import orientation in India were not the ones that benefited the most from government interventions during the heydays of import substitution.

Assumption:

I. High import companies do not need government support.
II. Low import companies received more government support.
III. Import oriented companies are affected by government policies.
IV. Exporting of goods get affected by government policies.

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The trade policy which advocated domestic production of goods in order to reduce foreign-dependence is called:

The correct option is C Import substitution This policy is called import substitution.

The correct option is C
Import substitution

This policy is called import substitution.