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Ilya [14]
3 years ago
14

Define what import substitution industrialization (ISI) is. Explain, in detail, how ISI may help economic development and give e

xamples of ISI policies in less-developed countries. Finally, discuss the main problems with ISI strategies.
Business
1 answer:
klio [65]3 years ago
6 0

Answer: The answers are provided below.

Explanation:

Import substitution industrialization is a theory that is used by developing countries to reduce their dependence on the developed countries. Import substitution industrialization is used to protect infant industries and develop other sectors so that locally produced goods are competitive with the imported goods.

An example was used by Argentina in the 1970s as the country imposed high tariffs on imported goods and encouraging local production of leather and textile and also make the economy self sufficient and protecting local firms from foreign competition.

The main issues with import substitution industrialization is that it can lead to inefficiency on the part of local firms due to lack of competition from foreign firms. The benefits to be derived from specialisation and trading with another country may also not be gotten.

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ZanzabumX [31]

Answer:

shifts the short-run Phillips curve up

Explanation:

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An increase in expected inflation leads to an upward shift of the Phillips curve in the short run. Unemployment would stay unchanged. While a decrease in expected inflation leads to a downward shift of the Phillips curve

Stagflation in the 1970s have disproved the Phillips curve. Stagflation is when there is high unemployment and high inflation  

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The supply of seats for a psychology class at 10 a.m. is the same as the supply of seats for the same class at 2pm LO5 MO1 There
alex41 [277]

Answer:

The demand for 10 a.m. class is higher than the demand for the 2 p.m. class.

Explanation:

The supply of seats for the psychology class at 10 a.m is the same as the class at 2 a.m. But there is a surplus of seats at 2 a.m class and shortage of seats at 2 p.m class.  

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Lyrx [107]

Answer:

True

Explanation:

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Musya8 [376]
The correct answer is <span>a.Because an older person has less time to make up for bad investments

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