What is advantage and disadvantage of import substitution industrialization
Answers
Answered by
4
Answer:
ADVANTAGES & DISADVANTAGES OF IS Advantages • Increase in domestic employment. Reduced dependence on labor non intensive industries. Resilience in the face of global economic shock (recessions & depreciations) • Less long distance transportation of goods.
Import substitution is popular in economies with a large domestic market. For large economies, promoting local industries provided several advantages: employment creation, import reduction, and saving in foreign currency that reduced the pressure on foreign reserves.
Explanation:
have sweet dreams
Similar questions