A tariff is a tax imposed on imported goods and services, making them more expensive and less competitive with domestic products. This tax is typically collected by the government of the importing country at the point of entry, and can be used as a means of protecting domestic industries and raising revenue for the government.

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What Is a Tariff

Question 138

Multiple Choice

What is a tariff?

A) A limit on the amount of products that can be imported into a country
B) A limit on the amount of products that can be exported out of a country
C) A tax on goods and services imported into a country
D) A tax on goods and services exported out of a country
E) The rate at which goods and services are traded internationally

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