Q7 of 16 Page 53

Why are tariffs imposed?

Tariffs are imposed to make imports expensive and to protect domestically produced good by making imports costly.


More from this chapter

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5

What do you understand by devaluation of rupee?

 6

Distinguish between the following

(i) Strategic and Minority sale


(ii) Bilateral and Multi-lateral trade


(iii) Tariff and Non-tariff barriers.

 8

What is the meaning of quantitative restrictions?

 9

Those public sectors undertakings which are making profits should be privatised. Do you agree with this view? Why?