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Question : Import tax is an example of which of the following?

Option 1: Foreign trade

Option 2: Trade Barrier

Option 3: Economic growth

Option 4: Globalisation


Team Careers360 4th Jan, 2024
Answer (1)
Team Careers360 24th Jan, 2024

Correct Answer: Trade Barrier


Solution : The correct answer is Trade Barrier.

Trade Barriers are instruments of policy that restrict the free flow of goods and services across borders. They are of two different types: tariff barriers and non-tariff barriers. Tariff barriers include permits, quotas, import taxes, embargoes, sanctions, etc. Non-tariff barriers consist of more regulatory requirements, SPS measures, etc.

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