In the first seven plans, trade was characterized by what is commonly called an inward looking trade strategy. Technically, this strategy is called ___________.
This question was previously asked in
Shift 16/06/2023 3:30 PM - 6:30 PM
A
Export promotion strategy
B
Trade strategy
C
Outward looking trade strategy
D
Import substitution strategy
Correct Answer
Import substitution strategy
Detailed Explanation
- In the first seven Five-Year plans, trade in India was distinguished by the inward-looking trade strategy.
- This strategy is known as import substitution, which aims to boost domestic production and shield domestic products from international competition
Get Dubuddy App
Practice on the go with our mobile app
More CUET Questions
1
Arrange the following events, in order of their occurrence.
A. Planning commission formed a study group
B. Twelfth five year plan
C. Second five year plan
D. Task force on projection of minimum needs and effective consumption demand was formed
Choose the correct answer from the options given below:
2
Identify the correct chain of action from the following,
A. Investment multiplier rises
B. Economy grows
C. MPC rises
D. Income rises
Choose the correct answer from the options given below:
3
Sale of assets like sale of share of an Indian Company to a foreigner customer is a ___________ account. item on capital
4
Which of the available technologies to adopt in the production of each of the goods? The above question relates to which Central problem of the economy ?
Test Series
CUET Subjects
Your CUET Journey Starts with DuBuddy
CUET ki Practice Means DuBuddy Pe Practice