Answer to Question #80815 in Macroeconomics for AYANDA

Question

Inward industrialisation involves......

1) The increase in domestic demand with the view to enable an economy to export goods that were previously imported
2) The use of import tariffs to encourage the local production of goods that were previously imported
3) The increase in domestic demand with the view to provide the basic consumer goods to the underprivileged members of the society
4) The substitution of local industries with foreign industries i order to reduce the costs of production in the economy

Answer 1

1) The increase in domestic demand with the view to enable an economy to export goods that were previously imported - The correct alternative is