Which types of goods becomes more expensive as a result of tariffs?

Which types of goods becomes more expensive as a result of tariffs?

Answer Expert Verified. The type of good that become expensive as a result of tariffs is IMPORTED GOODS. Governments usually use tariffs to protect and to promote domestic goods. Putting tariffs on imported goods makes them more expensive and discourage consumers from buying them.

What do quotas and embargoes have?

A quota is when a country limits the amount of a product that can be imported from another country. Example: A country might limit the amount of cars imported from other countries to 500,000 per year. Trade embargoes forbid trade with another country. The government orders a complete ban on trade with another country.

Why do countries provide financial incentives ?’?

Why do countries provide financial incentives? The correct answer is letter A: Financial incentives act as trade barriers. When countries provide financial incentives, they are promoting their domestic production by making it more efficient and cheaper, moreover, it is a way of protecting the country’s industry.

What term describes a ban or restriction on a trade with another country?

What term describes a ban or restriction on trade with another country? embargo.

What effect do quotas have?

Quotas will reduce imports, and help domestic suppliers. However, they will lead to higher prices for consumers, a decline in economic welfare and could lead to retaliation with other countries placing tariffs on our exports.

Which of the following is an example of quota sampling?

Quota sampling means to take a very tailored sample that’s in proportion to some characteristic or trait of a population. For example, you could divide a population by the state they live in, income or education level, or sex. Care is taken to maintain the correct proportions representative of the population.

What are the advantages of quota sampling?

Quota sampling has its own advantages. It is an easy process to carry out and decipher information once the sampling is done. It also improves the representation of any particular group within the population thereby ensuring that these groups are not over-represented.

What are two advantages of quota sampling?

Saves research data collection time as the sample represents the population. Saves research costs if the quotas accurately represent the population. It monitors the number of types of individuals who take the survey. The researcher always divides the population into subgroups.

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