5 Views

Question : What is an indicator of self-reliance?

Option 1: Increase in imports of the goods which could be produced in the country

Option 2: Avoiding imports of the goods which could be produced in the country

Option 3: Increase in exports of the goods which could not be produced in the country

Option 4: Avoiding exports of the goods which could be produced in the country


Team Careers360 8th Jan, 2024
Answer (1)
Team Careers360 10th Jan, 2024

Correct Answer: Avoiding imports of the goods which could be produced in the country


Solution : The correct option is to avoid imports of the goods which could be produced in the country

Avoiding imports of goods that could be produced domestically is a strategy often referred to as import substitution. This approach aims to promote self-sufficiency and protect domestic industries by reducing reliance on foreign products. Depending less on foreign goods can make a country less vulnerable to international economic fluctuations and political pressures.

Know More About

Related Questions

TOEFL ® Registrations 2024
Apply
Accepted by more than 11,000 universities in over 150 countries worldwide
Manipal Online M.Com Admissions
Apply
Apply for Online M.Com from Manipal University
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books