Match List-I with List-II.
| List-I | List-II | ||
| (A) | Licensing Policy | (I) | Quantity of goods which can be imported |
| (B) | Tariff | (II) | Inward looking trade strategy |
| (C) | Quota | (III) | Promotes regional equality |
| (D) | Import substitution | (IV) | Tax on imported goods |
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 4
The correct answer is option (4) : (A)-(III), (B)-(IV), (C)-(I), (D)- (II)
- (A) Licensing Policy → (III) Promotes regional equality. Licensing was used to regulate the location and expansion of industries so that industrial development could be spread across different regions, thereby promoting regional equality.
- (B) Tariff → (IV) Tax on imported goods. A tariff is a tax imposed on imported goods to make them more expensive and protect domestic industries.
- (C) Quota → (I) Quantity of goods which can be imported. A quota specifies the maximum quantity of a good that can be imported during a given period.
- (D) Import substitution → (II) Inward looking trade strategy. Import substitution aims to replace imported goods with domestically produced goods and is therefore an inward-looking trade strategy.