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Manufacturing Industries in the Caribbean

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Manufacturing Industries in the Caribbean

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Questions and Answers

What is the primary goal of an import substitution industry?

To promote the growth and development of domestic industries (correct)

To increase reliance on imported goods and services

To encourage the importation of goods and services from other countries

To reduce the production of goods and services locally

What is a characteristic of enclave industries?

They rely on imported inputs and are export-oriented (correct)

They are owned by local citizens

They are focused on producing goods for the local market

They are established in urban areas

What is a potential benefit of manufacturing industries in the Caribbean region?

Decreasing employment opportunities

Diversifying the economy (correct)

Increasing dependence on tourism

Reducing economic growth

What can contribute to the high operating costs of manufacturing industries in the Caribbean?

Expensive energy prices and high transportation costs Signup and view all the answers

What is a criticism of enclave industries?

They have limited contribution to the overall economy Signup and view all the answers

What policy is often implemented to promote import substitution industries?

Tariffs, quotas, and subsidies Signup and view all the answers

What is a potential outcome of technology transfer in manufacturing industries?

The transfer of knowledge and skills to local workers Signup and view all the answers

What is a benefit of value-added production in manufacturing industries?

Increasing the value of exports Signup and view all the answers

Why are enclave industries often established in developing countries?

To take advantage of specific resources or incentives offered by the government Signup and view all the answers

What can be a result of infrastructure development in the Caribbean region?

Improved infrastructure development Signup and view all the answers