Commerce THEORY; 1st update (2a) tarriffs are taxes or duties imposed on imports and export by d govt of a country. the idea behind tariffs is to restrict the volume of trade or improve the international terms (2b) -tariffs are imposed to protect infant in dustries from under competition with foreign firms -tariffs are imposed to prevent dumping of goods from foreign countries and it is used to prevent foreign goods from being sold at prices lower than home price. -tariffs are also imposed to gen erate revenue for the country. many countries derive their revenue from import and export duties -tariffs are imposed to encourage the establishment of local industries or enhance the expansion and growth of existing one so as to provide job opportunities -tariffs are imposed so as to prevent dangerous or harmful goods from other countries and it is done by placing high tarrifs on imported goods MORE COMING STAY TUNE
Posted on: Wed, 26 Jun 2013 10:59:31 +0000
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