JAMB Economics 2012 Objective — Question 34

Question 34 of 50 from the Joint Admissions and Matriculation Board (JAMB) Economics 2012 Objective paper, with the correct answer and a full explanation.

Ad valorem tax is paid based on the

A. quantity of the commodity imported
B. weight of the commodity
C. number of units sold
D. value of the commodity on which it is imposedCorrect

Explanation

Ad valorem tax is paid based on the value of the commodity on which it is imposed.

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