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JAMB Economics 1999 Question 25

Question 25

International Trade

The primary objective of establishing the Export Processing Zone is to

  1. A.facilitate agricultural production
  2. B.encourage the production and processing of export commodities
  3. C.erect structures that will facilitate the processing of imported raw materials
  4. D.erect economic structures near the port.
Show the answer and explanation

Answer: B (encourage the production and processing of export commodities)

Explanation

An Export Processing Zone gives firms special facilities and tax breaks so they will produce and process goods for export.