In general, tariffs are imposed to raise revenue, protect prices of domestic products, and control access to markets.

Question

Quizplus · Accepted Answer

Tariffs are used by governments primarily to raise revenue, protect domestic industries by increasing the cost of imported goods, thereby making them less competitive against local products, and to control access to markets by limiting the amount or type of goods that can enter a country.

In General, Tariffs Are Imposed to Raise Revenue, Protect Prices