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WAEC Commerce 1997 Question 79

Question 79

Foreign Trade

The imposition of high tariff on imported goods by the customs authority is to

  1. A.protect businessmen
  2. B.encourage imports
  3. C.encourage the consumption of foreign goods
  4. D.discourage exports
  5. E.protect infant industries
Show the answer and explanation

Answer: E (protect infant industries)

Explanation

High import duties make foreign goods dearer and protect young home industries.