SSC
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is a ‘barrier’ on foreign trade?
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Tax on import
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Custom Duty
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Transit permits
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All of the above
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Explanation:
Detailed explanation-1: -Tax on import is something which become barrier during foreign trade.
Detailed explanation-2: -Answer: The restrictions set by the Government to regulate foreign trade are called trade barriers. Tax on imports is an example of a trade barrier.
Detailed explanation-3: -If you’re exporting goods, trade barriers can include: customs procedures: for example, lengthy procedures that delay goods getting to market. problems with enforcing international rules and regulations: for example, a lack of regulatory measures for products or services, or non-compliance with WTO regulations.
There is 1 question to complete.