Multiple choice questions: 1. Why is the Import substituting industrialisation considered as too costly trade policy and fail to promote economic development a. It involved complex, time-consuming...

Extracted text: Multiple choice questions: 1. Why is the Import substituting industrialisation considered as too costly trade policy and fail to promote economic development a. It involved complex, time-consuming regulations b. It set high tariff rates for consumers, including firms that needed to buy imported inputs for their products c. It promoted inefficiently small industries d. All are correct