WAEC Economics 2022 Objective — Question 45

Question 45 of 50 from the West African Examinations Council (WAEC) Economics 2022 Objective paper, with the correct answer and a full explanation.

An argument for the use of commercial policy rests on the need to

A. make imported goods affordable
B. reduce domestic unemploymentCorrect
C. encourage the importation of non-essential goods
D. make a country enjoy absolute advantage in production of all goods

Explanation

A key argument for commercial (trade) policy — such as tariffs and import restrictions — is to protect domestic industries and reduce domestic unemployment.

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