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WAEC Commerce 2013 Question 38

Question 38

Foreign Trade

Ad valorem duties are based on the

  1. A.importance of the goods imported.
  2. B.value of the goods imported.
  3. C.weight of the goods imported.
  4. D.nature of the goods imported.
Show the answer and explanation

Answer: B (value of the goods imported.)

Explanation

Ad valorem means 'according to value'.