Which of the following makes the imported goods costlier and thus results in restriction of trade? |
Export duties Quota Tariff All of the above |
Tariff |
In order to protect domestic industries, India was following a regime of quantitative restrictions on imports. This was encouraged through tight control over imports and by keeping the tariffs very high. Tariff is a tax that has to be paid on goods coming into a country. Whereas, quota refers to the restriction on quantity of imports. |