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Why most of the countries went for a protectionist economic policy with import substitution?
1. This Economies were dominated by foreign colonisers
2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationals
Which of these statements is/are incorrect?
- a)1 Only
- b)2 Only
- c)Both 1 and 2
- d)None of them
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Why most of the countries went for a protectionist economic policy wit...
Incorrect Statement:
The statement "Most of the countries went for a protectionist economic policy with import substitution because they worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationals" is incorrect.
Explanation:
The correct statement is "Most of the countries went for a protectionist economic policy with import substitution because their economies were dominated by foreign colonizers."
Reasons for the adoption of protectionist economic policy with import substitution:
1. Domination by foreign colonizers: Most of the countries that adopted a protectionist economic policy with import substitution were under the control of foreign colonizers. These colonizers controlled the economies and resources of these countries and used them for their own benefit. As a result, these countries had to rely heavily on imports for their needs, which made them vulnerable to fluctuations in global markets. To overcome this vulnerability, these countries adopted a protectionist economic policy with import substitution.
2. Development of domestic industries: Protectionist policies aimed to develop domestic industries by providing them with a conducive environment to grow. By imposing tariffs and quotas on imports, these countries aimed to make their domestic industries more competitive and self-sufficient. This policy helped to create jobs, increase exports, and reduce the dependence on foreign imports.
3. National self-sufficiency: The adoption of a protectionist economic policy with import substitution aimed to achieve national self-sufficiency. These countries wanted to reduce their dependence on foreign countries for their needs and become self-sufficient in terms of food, energy, and other resources.
Conclusion:
Therefore, the correct statement is that most of the countries went for a protectionist economic policy with import substitution because their economies were dominated by foreign colonizers. The fear of domination by large multinationals was not the primary reason for the adoption of protectionist policies.
The statement "Most of the countries went for a protectionist economic policy with import substitution because they worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationals" is incorrect.
Explanation:
The correct statement is "Most of the countries went for a protectionist economic policy with import substitution because their economies were dominated by foreign colonizers."
Reasons for the adoption of protectionist economic policy with import substitution:
1. Domination by foreign colonizers: Most of the countries that adopted a protectionist economic policy with import substitution were under the control of foreign colonizers. These colonizers controlled the economies and resources of these countries and used them for their own benefit. As a result, these countries had to rely heavily on imports for their needs, which made them vulnerable to fluctuations in global markets. To overcome this vulnerability, these countries adopted a protectionist economic policy with import substitution.
2. Development of domestic industries: Protectionist policies aimed to develop domestic industries by providing them with a conducive environment to grow. By imposing tariffs and quotas on imports, these countries aimed to make their domestic industries more competitive and self-sufficient. This policy helped to create jobs, increase exports, and reduce the dependence on foreign imports.
3. National self-sufficiency: The adoption of a protectionist economic policy with import substitution aimed to achieve national self-sufficiency. These countries wanted to reduce their dependence on foreign countries for their needs and become self-sufficient in terms of food, energy, and other resources.
Conclusion:
Therefore, the correct statement is that most of the countries went for a protectionist economic policy with import substitution because their economies were dominated by foreign colonizers. The fear of domination by large multinationals was not the primary reason for the adoption of protectionist policies.
Community Answer
Why most of the countries went for a protectionist economic policy wit...
- As these economies were dominated by foreign colonisers, they worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationals.
- That is why most of these countries went for a protectionist economic policy with import substitution as one method, side by side.
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Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer?
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Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer?.
Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Why most of the countries went for a protectionist economic policy with import substitution?1. This Economies were dominated by foreign colonisers2. They worried that opening the economy to foreign investment would lead to a new form of domination, the domination by large multinationalsWhich of these statements is/are incorrect?a)1 Onlyb)2 Onlyc)Both 1 and 2d)None of themCorrect answer is option 'D'. Can you explain this answer?.
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