A tariff is a tax imposed on - JAMB Economics 2023 Question
A tariff is a tax imposed on
A
Consumer goods
B
Domestic goods
C
Imported goods
D
Exported goods
correct option: c
A tariff is a tax imposed on imported goods. Tariffs are taxes or duties placed on goods that are traded internationally. They are designed to protect domestic industries by making imported goods more expensive, thereby providing a competitive advantage to domestically produced goods.
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