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What is the main idea behind Import Substitution Industrialization (ISI)?
  • a)
    To increase reliance on foreign countries for finished products.
  • b)
    To focus on domestic production of products instead of imports.
  • c)
    To decrease the economy through industrialization.
  • d)
    To make countries more dependent on outside states.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is the main idea behind Import Substitution Industrialization (IS...
The main idea behind Import Substitution Industrialization (ISI) is for countries to focus on their own production of products instead of relying on imports from other countries. This not only reduces their dependence on outside states' finished products but also aims to build their economy through industrialization. By promoting domestic production, countries can become more self-sufficient and less vulnerable to adverse terms of trade. This process involves reducing foreign dependency and replacing imports with domestic production.
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What is the main idea behind Import Substitution Industrialization (ISI)?a)To increase reliance on foreign countries for finished products.b)To focus on domestic production of products instead of imports.c)To decrease the economy through industrialization.d)To make countries more dependent on outside states.Correct answer is option 'B'. Can you explain this answer?
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What is the main idea behind Import Substitution Industrialization (ISI)?a)To increase reliance on foreign countries for finished products.b)To focus on domestic production of products instead of imports.c)To decrease the economy through industrialization.d)To make countries more dependent on outside states.Correct answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the main idea behind Import Substitution Industrialization (ISI)?a)To increase reliance on foreign countries for finished products.b)To focus on domestic production of products instead of imports.c)To decrease the economy through industrialization.d)To make countries more dependent on outside states.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the main idea behind Import Substitution Industrialization (ISI)?a)To increase reliance on foreign countries for finished products.b)To focus on domestic production of products instead of imports.c)To decrease the economy through industrialization.d)To make countries more dependent on outside states.Correct answer is option 'B'. Can you explain this answer?.
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