What's New in Scott County. County Spotlights. No Kid Hungry Text FOOD to 877-877 to find locations Read on... Let's Go Fishing! Free excursions for veterans, seniors, and people with disabilities Read on... Submit your community event photos to Show Off Shakopee! Photo contest runs Sept. 1 - 30 Read on...
import substitution industrialization (ISI) A trade or economic policy theory that advocates replacing imports with domestic production, on the principle that countries should reduce their foreign dependency through local production of industrialized products to create self-sufficient economies.
substitution effect. An effect caused by a rise in price that induces a consumer (whose income has remained the same) to buy more of a relatively lower-priced good and less of a higher-priced one.