Question

Governments levy imprt duties which vary with the _______ of Commodities imported

Answer 1

Answer:

Value of commodities imported

Explanation:

The government uses the import duty as a way to regulate the market or as a way to earn revenue. The government may want to promote its local industries so it may charge import duty on lets say cars imported into the country, this will make the imported goods  expensive compared to the locally produced.Which according to Economics will result result in a shift in the demand graph.

In order to appropriate place an import duty accountants are more concerned with value.