Question on: JAMB Economics - 2018
The policy by which government encourages producers of export goods to produce and export more in order to earn more foreign exchange is called__________
A
Sales promotion
B
Term of trade
C
Export promotion
D
International trade
Ask EduPadi AI for a detailed answer
Correct Option: C
The policy described in the question aims to boost exports.
* **Export promotion** is the specific strategy employed by governments to encourage the production and sale of goods abroad, thus earning more foreign exchange.
* **Sales promotion** involves tactics to boost sales in the domestic market.
* **Terms of trade** relate to the ratio of export prices to import prices.
* **International trade** is the broad concept of trade between countries, and it is not a specific government policy.
Add your answer
Please share this, thanks!
No responses