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
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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.
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