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JAMB Economics 2004 Question 18

Question 18

Industrialisation

Import duty concessions on the industrial inputs directly benefit the

  1. A.consumers
  2. B.external sector
  3. C.commercial sector
  4. D.manufacturers
Show the answer and explanation

Answer: D (manufacturers)

Explanation

Lower duties on imported machinery and raw materials reduce the production costs of the manufacturers who import them.