WAEC Economics 2023 Objective — Question 31
Question 31 of 50 from the West African Examinations Council (WAEC) 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 exceptions. B. local firms entering into partnerships with foreign firms. C. setting up industrial estates with modern amenities. D. granting capital to firms at reasonable interest rates.
- A. granting old firms tax exceptionsCorrect
- B. local firms entering into partnerships with foreign firms
- C. setting up industrial estates with modern amenities
- D. granting capital to firms at reasonable interest rates
Explanation
When old firms are granted tax exceptions, it will not be easy for new firms to enter the industry, which does not promote industrial development.
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