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Define the following terms (a) Outsou...

Define the following terms
(a) Outsourcing `" "` (b) Quota

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The correct Answer is:
a

Import Substitution : The policy aimed at replacing or substituting imports with domestic production by protecting the domestic industries from foreign competition is known as Import Substitution.
b) Quota : Quantitative restrictions on imports for the protection of the domestic firms from foreign competition. Under this quantity of goods which can be imported is specified by the state.
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