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WAEC Commerce 2015 Question 46

Question 46

Foreign Trade

A tax charged in proportion to the value of imported goods is

  1. A.specific duty.
  2. B.ad valorem duty.
  3. C.custom duty.
  4. D.excise duty.
Show the answer and explanation

Answer: B (ad valorem duty.)

Explanation

An ad valorem duty is a percentage of the value of the goods.