WAEC - Economics (2018 - No. 25)
local firms can help in reducing unemployment in a country when?
land acquisition becomes centralized
imports of substitutes are reduced
waste in the firm is eliminated
subsidies to firms are decreased
Selitys
Import substitution is a trade and economic policy which advocates replacing foreign imports with domestic production, it is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products.