Match List-I with List-II.

Choose the correct answer from the options given below :

(A)-(III), (B)-(IV), (C)-(I), (D)- (II)

The correct answer is option (4) : (A)-(III), (B)-(IV), (C)-(I), (D)- (II)

Based on the definitions provided :

(A) Licensing Policy is related to the restriction of the quantity of goods that can be imported and is thus associated with item (I).

(B) Tariff refers to a tax on imported goods and is thus associated with item (II).

(C) Quota is related to the limitation on the quantity of goods that can be imported, promoting regional equality, and is thus associated with item (III).

(D) Import substitution is an inward-looking trade strategy, as it focuses on producing goods domestically that were previously imported, and is thus associated with item (IV).

According to the matching of the descriptions, the correct option is (4) : (1)-(III), (B)-(IV), (C)-(I), (D)-(II)