What is Free port ?
Correct answer: C. Where no export or import duties are levied
- A. Where no export duties are levied
- B. Where no import duties are levied
- C. Where no export or import duties are levied
- D. Where everything can be import or export
Explanation
A free port permits goods to enter and leave without the usual import or export customs duties. Thus it is not limited to exemption from only one type of duty.
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About Public Finance
Government revenue and expenditure are analysed through taxation, public borrowing, budgets, subsidies, transfers and public debt. The topic explains how fiscal policy affects resource allocation, income distribution, economic stability and growth, while distinguishing direct from indirect taxes, progressive from regressive taxation, and public goods from goods supplied by private markets.
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