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

Assessment: WAEC SSCE - Commerce - 1991 (Objective) Subject: Commerce

Question 1 Report

Which of the following is not a reason for imposing custom duty? The need to
Answer Details
The reason that is not a valid reason for imposing customs duty is to decrease the volume of world trade. This is because the imposition of customs duty is a trade barrier that discourages imports, which could increase the volume of world trade. Customs duty can be imposed for various reasons, including raising revenue for the government, protecting domestic industries, preventing dumping of goods, and retaliating against other countries' policies.
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Read lesson note on Commerce (JAMB)
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