So this question came up in my
Mocks and I can't seem to find the answer anywhere in my book
Outline one effect of import substitution on the balance of payments of a country.
Would anyone know the answer to this ?
I'm not sure if this is the correct answer but I think that an effect of import substitution on the balance of payments would be that there would be a higher surplus or the imports would be lower as many people would be buying Irish made goods
Yeah that's right the imports go down so the surplus would go up
or defecit would go down