75.3k views
5 votes
Tariffs are a tax placed on

✔ imported
goods.
Tariffs are used to give domestically produced goods
✔ an advantage
in the market.
As a result of tariffs, imported goods become
✔ more
expensive for consumers

2 Answers

3 votes

Answer:

Tariffs are a tax placed on

✔ imported

goods.

Tariffs are used to give domestically produced goods

✔ an advantage

in the market.

As a result of tariffs, imported goods become

✔ more

expensive for consumers

Step-by-step explanation:

User Shintaroid
by
8.3k points
3 votes

Answer:

imported; an advantage; more

Step-by-step explanation:

Trade can be defined as a process which typically involves the buying and selling of goods and services between a producer and the customers (consumers) at a specific period of time.

Basically, trade can be categorized into two (2) main groups and these are;

I. Import: this involves bringing in goods from a foreign country to sell in a different (domestic) country.

II. Export: it involves the sales of goods produced in a domestic country to a foreign country.

A tariff can be defined as tax levied by the government of a country on goods and services imported from another country.

This ultimately implies that, tariffs are a tax placed on imported

goods and are used to give domestically produced goods an advantage in the market.

As a result of tariffs, imported goods become more expensive for consumers.

User Barguast
by
8.0k points
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