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What is a tax on imported goods and is usually designed to protect domestic production of similar goods?
Wiki User
∙ 9y ago
This is the typical definition of "Protective Tariff" of "Preventative Tariff". Often times this is used by a developing country with a less efficient method of manufacture to prevent a more developed country from drowning the market in less expensively produced goods and destroy the nascent industry. The North in the United States famously advocated for Protective Tariffs in the early 1800s to compete against the United Kingdom.
Wiki User
∙ 12y ago
Wiki User
∙ 13y agotariff
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What mercantilist policy was designed to protect local industries from foreign competition?
Tariffs increased the price of imported goods
What is quantitative restriction?
Quantitative restrictions are those barriers or restrictions that are placed on the imports of an economy so that less quantity of a particular commodity is imported . This is done to protect domestic markets of an economy with respect to the same
What does imposing tariffs mean?
A tariff is a tax paid on goods brought into a colony or country; tariffs protect internal production by raising the price of imported goods.
Why do government imposes taxes on imported goods?
Mainly, for two reasons in my opinion:to protect and allow better chance and better marketing for the local production of the same type of imported good.to get some revenue for the country to allow better chance for the government to finance the different country services.
What is intended to protect domestic industry?
PROTECTIVE tariff
What policy was designed to protect local industries from foreign competition?
Tariffs increased the price of imported goods
What mercantilist policy was designed to protect local industries from foreign competition?
Tariffs increased the price of imported goods
What is the tariff type of raise money to the government?
Protective tariff. These types of tariffs are placed by the government on goods that are imported in an effort to protect the countries specific trade on that good. This tariff raises the price of an imported good so high that others will turn to the local countries good instead. ^No. Incorrect. Falso. a protective tariff is designed to protect a domestic industry (which is what the above answer talked about). A revenue tariff is used to raise money for the government
What type of tariff is used to raise money for the government?
Protective tariff. These types of tariffs are placed by the government on goods that are imported in an effort to protect the countries specific trade on that good. This tariff raises the price of an imported good so high that others will turn to the local countries good instead. ^No. Incorrect. Falso. a protective tariff is designed to protect a domestic industry (which is what the above answer talked about). A revenue tariff is used to raise money for the government
What government actions would violate the principles behind GATT and the WTO?
increasing tariffs on imported goods
The bill of rights was designed to protect?
They are designed to protect: Liberty
What is quantitative restriction?
Quantitative restrictions are those barriers or restrictions that are placed on the imports of an economy so that less quantity of a particular commodity is imported . This is done to protect domestic markets of an economy with respect to the same
What did the Montreal Protocol accomplish?
It is an international treaty designed to protect the ozone layer by phasing out the production of numerous substances that are responsible for ozone depletion.
What does imposing tariffs mean?
A tariff is a tax paid on goods brought into a colony or country; tariffs protect internal production by raising the price of imported goods.
Why do government imposes taxes on imported goods?
Mainly, for two reasons in my opinion:to protect and allow better chance and better marketing for the local production of the same type of imported good.to get some revenue for the country to allow better chance for the government to finance the different country services.
What is the purpose of Subsidies?
To protect domestic producers against international competition
Why did sir john a MacDonald introduce the national policy?
Sir John A. MacDonald introduced the National Policy in order to promote economic growth and protect Canadian industries. The policy was designed to encourage and support domestic manufacturing, promote the construction of a transcontinental railway, and implement high tariffs on imported goods. It aimed to strengthen Canada's economy and increase national unity.
