Taxes or duties on goods and services imported into a country are ________.

Question

Quizplus · Accepted Answer

Tariffs are taxes or duties on imported goods and services, which are used to protect domestic industries or generate revenue for the government. Quotas are a restriction on the amount of goods that can be imported, embargoes are a complete ban on trade with a specific country or region, and dumping refers to the practice of selling goods in foreign markets at a lower price than that of the domestic market. None of the above is not the correct answer in this case.

Taxes or Duties on Goods and Services Imported into a Country