In most less developed countries, the initial target of import substitution is to promote domestic production of
(a) consumer goods.
(b) food and other agricultural goods.
(c) capital goods.
(d) manufactured intermediate goods.
A
Economics
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Countries often have to choose between producing military or consumer goods, a trade-off economists call ____________ .
a. export or import. b. a free market economy. c. farm goods or factory goods. d. guns or butter.
Economics
Marginal factor cost is computed as
A) total cost of the resource/total amount of the resource being used. B) change in the total cost of the resource/total amount of the resource being used. C) total cost of the resource/change in the amount of the resource being used. D) change in the total cost of the resource/change in the amount of the resource being used.
Economics