Question

To help developing countries expand their industrial base, some industrial countries have reduced tariffs on designated manufactured imports from developing countries below the levels applied to imports from industrial countries. This scheme is referred to as:

Answer 1

Answer:

The correct answer is letter "B": generalized system of preferences.

Explanation:

Generalized System of Preferences or GSP is a set of preferential tariffs developed countries set to developing countries usually at a lower rate to boost the trade among those countries which mainly helps developing countries to increase the quality and number of their manufacturing companies.