NECO Economics 2023 Objective — Question 31
Question 31 of 50 from the National Examinations Council (NECO) Economics 2023 Objective paper, with the correct answer and a full explanation.
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One factor that may not promote industrial development is
- A. granting old firms tax exemptionsCorrect
- B. local firms entering into partnership with foreign firms
- C. setting up industrial estates with modern amenities
- D. granting capital to firms at reasonable interest rates
Explanation
Options B, C and D actively support industrialisation; granting old, already established firms tax exemptions does not particularly promote new industrial development.
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