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WAEC Commerce 1991 (August) Question 86

Question 86

Foreign Trade

Which of the following is not a reason for imposing customs duty? The need to

  1. A.raise revenue
  2. B.protect home industry
  3. C.prevent dumping
  4. D.decrease the volume of world trade
  5. E.retaliate
Show the answer and explanation

Answer: D (decrease the volume of world trade)

Explanation

Duties may reduce trade, but that is not the reason they are imposed.