Industrial policy aims to promote economic growth and development by targeting specific industries or sectors for support and intervention.

Privatization is the opposite of industrial policy, as it involves the transfer of government-owned assets to the private sector.

Structural change aims to improve the productivity and efficiency of an economy by shifting resources from less productive to more productive sectors.

Industrial policy can lead to environmental degradation if it promotes industries that are harmful to the environment.

Labor mobility refers to the movement of workers from declining industries to growing industries, which is essential for structural change.

Technological progress is a driver of structural change, not a challenge.

Government can promote structural change by providing education and training programs, investing in infrastructure, and promoting research and development.

The development of the semiconductor industry in South Korea is an example of a successful industrial policy, as it led to rapid economic growth and technological innovation.

Industrial policy and trade policy are closely related and can be used together to achieve economic development.

Industrial policy can lead to increased economic growth, not a cost.

Capital mobility refers to the movement of capital from declining industries to growing industries, which is essential for structural change.

Natural disasters are not a factor that can drive structural change, although they can have a temporary impact on the economy.

Education and training play a crucial role in promoting structural change by providing workers with the skills needed for jobs in growing industries, helping them adapt to new technologies, and promoting lifelong learning.

Structural change can lead to increased income inequality if it benefits certain groups of workers more than others.

Structural change refers to the process of moving resources from less productive to more productive uses, leading to increased economic efficiency and growth.