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QUESTION 3.2 Explain import substitution industrialisation and how it can affect Ghana. What role does learning by doing play and when does it make sense

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QUESTION 3.2 Explain import substitution industrialisation and how it can affect Ghana. What role does learning by doing play and when does it make sense for the government to interfere? (5 marks) QUESTION B.3 Ghana's president's ISI strategy is to ask Switzerland to adopt a voluntary export restraint (VER). He believes that this is likely to increase Ghanaian welfare. Using two diagrams (one for each country} explain the Ghanaian welfare consequences of this policy

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