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WAEC Economics 2012 Question 47

Question 47

International Trade

Which of the following is true about import substitution? It

  1. A.helps in increasing exportation.
  2. B.is meant to reduce exportation.
  3. C.enables a country to curtail importation.
  4. D.enables a country to improve on importation.
Show the answer and explanation

Answer: C (enables a country to curtail importation.)

Explanation

Making at home what was imported reduces imports.