HISTORY
HISTORY OF THE MIDDLE EAST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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lowering production costs and increasing access to resources.
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making foreign goods more expensive for consumers than local goods
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preventing foreign goods from being imported to a country.
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eliminating government regulations that lower productive efficiency.
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Detailed explanation-1: -A tariff is a tax on imported goods that is designed to make them more expensive for consumers and thus, make domestically produced goods more competitive. A tariff aims to protect local industries from foreign competition, generate revenue for the government, and influence trade relations between countries.
Detailed explanation-2: -protectionism, policy of protecting domestic industries against foreign competition by means of tariffs, subsidies, import quotas, or other restrictions or handicaps placed on the imports of foreign competitors.
Detailed explanation-3: -Tariffs increase the prices of imported goods. Because of this, domestic producers are not forced to reduce their prices from increased competition, and domestic consumers are left paying higher prices as a result.
Detailed explanation-4: -Tariffs are intended to protect local industries by making imports more expensive and driving consumers to domestic producers.
Detailed explanation-5: -A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products. Different tariffs applied on different products by different countries.