WAEC Economics 2020 Objective — Question 47

Question 47 of 50 from the West African Examinations Council (WAEC) Economics 2020 Objective paper, with the correct answer and a full explanation.

In order to discourage the importation of manufactured goods, a country should adopt

A. import promotion strategy
B. export led strategy
C. liberal foreign exchange strategy
D. import substitution strategyCorrect

Explanation

An import substitution strategy is aimed at encouraging local firms to produce goods domestically instead of importing them, thereby discouraging importation.

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