Tariffs Definition
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Question (English)
'Tariffs' in trade policy refer to:
- Quantity limits on imports
- Tax on imported goods making them more expensive ✓ Correct
- Subsidies on domestic goods
- Export license fees
Explanation:
Correct Answer Explanation
Tariffs are a tax on imported goods making them more expensive and discouraging their use.
Key Points:
- Tariffs = Tax on imports.
- Quotas = Quantity limits on imports.
- Both protect domestic firms from foreign competition.
📚 About this Topic — CH-2: INDIAN ECONOMY 1950–1990
This multiple choice question is from CH-2: INDIAN ECONOMY 1950–1990, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-2: INDIAN ECONOMY 1950–1990 to strengthen your preparation.
