Final answer:
The term for a closed facility where foreign goods are not subject to normal import duties is a Free Trade Zone. It is a type of special economic zone aimed at boosting economic growth by reducing trade barriers and fostering innovation.
Step-by-step explanation:
The term that describes a closed facility into which foreign goods can be brought without being subject to the payment of normal import duties is B) Free Trade Zone. A Free Trade Zone (FTZ) is a geographical area where goods may be landed, stored, handled, manufactured, or reconfigured, and re-exported under specific customs regulation and generally not subject to customs duty.
This concept is part of a broader category known as a special economic zone (SEZ), which is an area of a country with access to a port and where trade is not taxed by the government. FTZs are intended to facilitate international trade by providing businesses with opportunities to conduct trade-related operations without the constraints of normal customs regulations.
They are often established in areas of strategic economic importance to foster economic growth and development. The goal is to attract trade by removing barriers, thus often leading to increased employment and technological change as companies may innovate more freely in such zones.