3. International trade and development Starting in the 1970s, the South Korean government actively assisted the development of electronics, shipbuilding, and automobile companies that sold their products abroad. This is an example of: Export promotion Import substitution ● Foreign aid What are the primary advantages of this kind of policy? Check all that apply. It forces producers to become more efficient in order to compete in world markets. It emphasizes comparative advantage and trade expansion. It provides a protected market for infant industries.
3. International trade and development Starting in the 1970s, the South Korean government actively assisted the development of electronics, shipbuilding, and automobile companies that sold their products abroad. This is an example of: Export promotion Import substitution ● Foreign aid What are the primary advantages of this kind of policy? Check all that apply. It forces producers to become more efficient in order to compete in world markets. It emphasizes comparative advantage and trade expansion. It provides a protected market for infant industries.
Chapter19: Economic Development
Section: Chapter Questions
Problem 2.3P
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Transcribed Image Text:3. International trade and development
Starting in the 1970s, the South Korean government actively assisted the development of electronics, shipbuilding, and automobile companies that
sold their products abroad.
This is an example of:
Export promotion
Import substitution
● Foreign aid
What are the primary advantages of this kind of policy? Check all that apply.
It forces producers to become more efficient in order to compete in world markets.
It emphasizes comparative advantage and trade expansion.
It provides a protected market for infant industries.
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