Question

A group of companies in India wishes to import high quality ACs from South Korea but have to pay a huge import tax on them which would make the ACs very expensive leading to a decline in their sale. Ascertain the role of the import tax in this situation.


Answer in detail with explanations.


CBSE | Class 10 | Social Science | Economy | Globalization | Import Tax

Answer 1

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The role of import tax in this situation is acting as a trade barrier.
Trade barrier means that , imposition of tax on the import of goods from foreign countries. The Indian government has put various barriers to foreign trade and foreign investment after independence.
And,
The objectives were :
 ⇒To protect the domestic producers from the following competition.
 ⇒To provide opportunity to new industries to develop their position in the market.
⇒ To control the quantity of imports in the country.

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Answer 2

Answer:

Hey there! 

Your Dearest Star is here to help! ♡♥

It's a pleasure to help you govind :-)

_________________________________________

The role of import tax in this situation is acting as a trade barrier.

Trade barrier means that , imposition of tax on the import of goods from foreign countries. The Indian government has put various barriers to foreign trade and foreign investment after independence.

And,

The objectives were :

 ⇒To protect the domestic producers from the following competition.

 ⇒To provide opportunity to new industries to develop their position in the market.

⇒ To control the quantity of imports in the country.

Thanks for the awesome question :D !

___________________________________________

Hope you are helped

@ Harshit mangla

Please brainlest me the answer