What term describes taxes on imported goods?

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Multiple Choice

What term describes taxes on imported goods?

Explanation:
Tariffs are taxes imposed on goods imported from abroad. They raise the price of imports, which can generate government revenue and make domestic products more competitive by comparison. This is different from quotas, which strictly limit the quantity that can be imported; subsidies, which are payments to domestic producers to lower their costs; and import licenses, which control who can import but aren’t themselves taxes. For example, a tariff on imported cars increases their cost to consumers, encouraging demand for domestically produced cars.

Tariffs are taxes imposed on goods imported from abroad. They raise the price of imports, which can generate government revenue and make domestic products more competitive by comparison. This is different from quotas, which strictly limit the quantity that can be imported; subsidies, which are payments to domestic producers to lower their costs; and import licenses, which control who can import but aren’t themselves taxes. For example, a tariff on imported cars increases their cost to consumers, encouraging demand for domestically produced cars.

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