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Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19903 Marks
Question
What is import? Give any two features of import.
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Answer

Import means buying goods and services from other countries. Two features of import are given below:
  1. Import acts as a substitute for domestic goods and services.
  2. Import increases competition in the domestic market, forcing them to produce quality goods.

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