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JAMB Economics 1995 Question 33

Question 33

Industrialisation

Infant industries denote industries which

  1. A.are introducing new products
  2. B.are too young to compete in the world market
  3. C.produce baby food and mother care products
  4. D.are allowed time enough to mature for recognition.
Show the answer and explanation

Answer: B (are too young to compete in the world market)

Explanation

An infant industry is a newly established industry that cannot yet compete with older foreign firms, which is why it is often protected.