During a business recession,when cheaper products are purchased,a specific tariff provides domestic producers a greater amount of protection against import-competing goods.

Question

Quizplus · Accepted Answer

During a business recession, consumers tend to purchase cheaper products which often come from foreign markets. To protect the domestic producers and industries, the government may implement specific tariffs on imported goods which provide greater protection against the import competition. This is done to encourage domestic consumption and support domestic industries.

During a Business Recession,when Cheaper Products Are Purchased,a Specific Tariff