Question

objectives in import susbsition

Answer 1

Note that the spelling is Import Substitution .

Import Substitution means the substitution of import of foreign goods and using more of domestic or local goods.

This is especially essential for the economic good .

Objectives of import substitution

⇒ Important substitution is used to conserve economy in a country .

⇒ To prevent trade .

⇒ To promote economic development in a nation .

⇒ To promote employment .

⇒ To do away with social and economic problems .

Answer 2

hi

here is your answer

IMPORT SUBSTITUTION

1)it is a trade policy aimed to promote economic growth by restricting imports that competed with domestic products in developing countries.

2)helps in conservation of foreign exchange.

3)To create process for domestic capital formation.

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