Question on: WAEC Economics - 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
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Correct Option: B
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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