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IMPORT SUBSTITUTION: A strategy for economic development for a country based on replacing imported goods with domestic production. This is often directed toward imported inputs used for domestic production. The goal of this policy is to encourage domestic production, which subsequently increases domestic income and consumption. A contrasting economic development is export promotion.
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BEHAVIORAL ALTERNATIVES Two different inclinations toward institution changing innovations and maintenance of the status quo. One alternative is entrepreneurial behavior, which is the willingness to develop or adopt innovations that change existing institutions and the status quo. The other alternative is managerial behavior, which is the desire to maintain and promote existing institutions and the status quo. These alternatives can be traced to different preferences for novel and redundant information, which result from the physiological reaction to a potential threat.
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The average bank teller loses about $250 every year.
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"The ideals that have lighted my way, and time after time have given me new courage to face life cheerfully, have been kindness, beauty and truth. " -- Albert Einstein, physicist
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ACIR
Advisory Council on Intergovernmental Relations
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