Question

ISI was set up in 1950 A.D. to control price. true or false​

Answer 1

Answer:

Import substitution industrialization (ISI) is a trade and economic policy that 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. The term primarily refers to 20th-century development economics policies, but it has been advocated since the 18th century by economists such as Friedrich List and Alexander Hamilton.

ISI policies have been enacted by countries in the Global South with the intention of producing development and self-sufficiency by the creation of an internal market. The state leads economic development by nationalization, subsidization of vital industries (agriculture, power generation, etc.), increased taxation, and highly-protectionist trade policies.ISI was gradually abandoned by most developing countries in the 1980s and after the fall of the Soviet Union because its initial success was ultimately unsustainable and, thereafter, the insistence of the IMF and World Bank on their structural adjustment programs aimed at the Global South.

Answer 2

Answer:

true

Explanation:

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