What is import substitution, Business Economics

Assignment Help:

What is import substitution?

Import substitution:

It is a government industrialisation policy for development by replacing imports along with domestic production.

  • Stage 1: Identify labour intensive domestic industries now met by imports for example textiles, shoes and clothes.
  • Stage 2: Import the capital and intermediate goods required to make labour intensive and low capital goods.
  • Stage 3: Prevent such infant industries along with quotas and tariffs. Domestic output starts to replace imports.
  • Stage 4: Start exporting or make own capital goods.

 


Related Discussions:- What is import substitution

Intro to business, Marketing is impacted by influences outside the business...

Marketing is impacted by influences outside the business control that constrain the organizations ability to manipulate its marketing mix. These environmental included (a) competi

Quantitative , how many statics numericals in quantitative economics

how many statics numericals in quantitative economics

Influence of warranty and political pressure in is project, Explain about t...

Explain about the influence of warranty and political pressure in IS project. Warranty: When a system is being developed under contract, this frequently carries a warranty

What do you understand by the term "anthropometry"?, QUESTION 1 (a) Wha...

QUESTION 1 (a) What, according to you, are the ergonomic problems associated with the use of visual display units? Describe the measures which can be taken to eliminate these p

Average and standard deviation of monthly return, Report the average and st...

Report the average and standard deviation of monthly return for your corporation and the S&P 500 on the spreadsheet.  Use the spreadsheet functions to calculate these: =AVERAGE(dat

Macroeconomic, Question 1 (9 marks) During the 1990s, technological advan...

Question 1 (9 marks) During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets a

Question, I thought I was getting an automatic answer

I thought I was getting an automatic answer

Explain the term balance of payments, QUESTION (a) Explain the term Bal...

QUESTION (a) Explain the term Balance of Payments (BOP) and how a government would intervene to correct a BOP deficit. (b) Explain the protectionist measures that a governme

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd