Match each industrialization strategy or policy instrument with its corresponding economic… — JAMB UTME

Match each industrialization strategy or policy instrument with its corresponding economic feature or primary objective.

Import Substitution StrategyReplacing imported manufactured goods with domestically produced substitutes
Export Promotion StrategyEncouraging domestic manufacturing targeted primarily at international markets
Protective TariffsImposing duties on foreign goods to shield domestic infant industries
Export SubsidiesProviding financial assistance to domestic firms to lower export production costs

Cevap

Import Substitution Strategy matches with replacing imported manufactured goods; Export Promotion Strategy matches with encouraging domestic manufacturing targeted at international markets; Protective Tariffs match with imposing duties to shield domestic infant industries; Export Subsidies match with providing financial assistance to lower export production costs.

Each industrial term accurately corresponds to its core definition: Import Substitution aims to replace foreign imports with local products; Export Promotion builds manufacturing capacity for international sales; Protective Tariffs shield infant industries by raising import costs; and Export Subsidies assist exporters in competing globally.

Adım Adım Çözüm

Differentiate between inward-looking and outward-looking industrial development strategies.

Import substitution is an inward-looking strategy aimed at satisfying domestic demand locally, while export promotion is an outward-looking strategy focused on international sales.

This establishes the fundamental objective of each strategy.

Identify the trade policy tools associated with domestic protection versus export expansion.

Protective tariffs raise import costs to safeguard local producers, while export subsidies financially support producers aiming for overseas markets.

This links policy instruments directly to their intended operational mechanisms.

Anahtar Kavram

Industrial Sector: Manufacturing, Import Substitution, and Export Promotion

Soru

Cevap

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Anahtar Kavram

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