The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy. Concept Introduction: The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

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Answer 1

Question

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

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Answer 2

Question

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

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Answer 3

Question

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

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Answer 4

Question

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

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Answer 5

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

Answer 6

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

Answer 7

Chapter 21, Problem 3P

To determine

The policy that is preferred by the domestic producers and consumers between import-substitution policy and export-promotion policy.

Concept Introduction:

The measures taken by the government to reduce the import of goods and services by promoting local businesses to develop the goods and services indigenously is known as import-substitution policy, whereas the measures taken by the government to promote the export of locally produced goods and services in the global market is known as an export-promotion policy.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 21 - Prob. 1P Ch. 21 - Prob. 2P Ch. 21 - Prob. 3P Ch. 21 - Prob. 4P Ch. 21 - Prob. 5P Ch. 21 - Prob. 6P

Solution Summary: The author explains that domestic producers prefer import-substitution policy over export-promotion policy to prevent competition, price cuts, and erosion of profits.

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