Question

What is the effect of import restrictions on supply?

Answer 1

Restrictions on imports generally take two forms: tariffs and quantitative restrictions.

them scarce, which, according to the laws of supply and demand, makes them more ...

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Answer 2

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Tariffs restrict or discourage imports by making imported goods more expensive than domestic goods.

Governments restrict imports for four basic reasons: For some governments, particularly in the developing world, tariffs provide a significant source of government revenues.


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Answer - By Choudhary21