ECONOMICS (CBSE/UGC NET)

ECONOMICS

TECHNOLOGY

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

What best refers to the area of a country, usually with access to a port where, among other benefits, the government does not tax trade?

A	Fair Trade Zone
B	North American Free Trade Agreement
C	Special Economic Zone
D	World Trade Organization

Explanation:

Detailed explanation-1: -An enterprise zone is a geographic area that has been granted special tax breaks or other public assistance to promote economic development.

Detailed explanation-2: -Special Economic Zones (SEZs) have been around since the 1950s. Shannon Airport in Ireland, Dubai South in the United Arab Emirates (UAE) and Xiamen in China are just some examples.

Detailed explanation-3: -Complete solution: Kandla has a deregulation zone for the Special Economic Zone (KASEZ). It was before known as the Kandla Free Trade Zone and is situated at the port town Gandhidham in the province of Gujarat.

Detailed explanation-4: -A free trade zone is any location where goods can be shipped, handled, manufactured, reconfigured and re-exported without the involvement of customs agencies. A major seaport, an international airport or a border facility between two or more countries may be designated a free trade zone.

Detailed explanation-5: -Free-trade zones are organized around major seaports, international airports, and national frontiers-areas with many geographic advantages for trade. Examples include Hong Kong, Singapore, Colón (Panama), Copenhagen, Stockholm, Gdańsk (Poland), Los Angeles, and New York City.

There is 1 question to complete.