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WAEC Economics 2023 Question 31

Question 31

Industrialisation

One factor that may not promote industrial development is

  1. A.granting old firms tax exemptions.
  2. B.local firms entering into partnerships with foreign firms.
  3. C.setting up industrial estates with modern amenities.
  4. D.granting capital to firms at reasonable interest rates.
Show the answer and explanation

Answer: A (granting old firms tax exemptions.)

Explanation

Tax breaks normally help new (infant) firms; giving them to long-established firms does little for industrial growth.