what is tariff ?why is it imposed on goods?
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Tariffs are used to restrict imports by increasing the price of goods and services purchased from overseas and making them less attractive to consumers. ... Governments may impose tariffs to raise revenue or to protect domestic industries – particularly nascent ones – from foreign competition.
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Tariff is a tax paid on a particular class of imports and exports.
It is imposed on goods so that,
1)The government can control the amount of import and export on a particular goods.
2) It is also used so that the government can keep a check on what kind of goods are imported or exported from the country.
3)And also to protect the small producers of the country from the stiff competition in the international markets.
It is imposed on goods so that,
1)The government can control the amount of import and export on a particular goods.
2) It is also used so that the government can keep a check on what kind of goods are imported or exported from the country.
3)And also to protect the small producers of the country from the stiff competition in the international markets.
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