local firms can help in reducing unemployment in a country when?
ECONOMICS
WAEC 2018
local firms can help in reducing unemployment in a country when?
- A. land acquisition becomes centralized
- B. imports of substitutes are reduced
- C. waste in the firm is eliminated
- D. subsidies to firms are decreased
Correct Answer: B. imports of substitutes are reduced
Explanation
Import substitution is a trade and economic policy which advocates replacing foreign imports with domestic production, it is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products.
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