A tariff is a tax imposed by one country on the goods and services imported from another country.
![Logo](https://media.sailthru.com/53o/1k3/2/4/5c58cb7fcf63e.png) | Term of the Day | Words to Know | | | ![](https://media.sailthru.com/53q/1k2/5/h/5afdc887e2c1f.gif) | Tariff | A tariff is a tax imposed by one country on the goods and services imported from another country. | Read More » | Trade War | A trade war arises when one country retaliates against another by raising import tariffs or placing other restrictions on the other country's imports. | Read More » | | Mercantilism | Mercantilism was the primary economic system of trade between the 16th and the 18th centuries with theorists believing that the amount of wealth in the world was static. | Read More » | | Comparative Advantage | Comparative advantage refers to an economy's ability to produce goods and services at a lower opportunity cost than trade partners. | Read More » | | | | | CONNECT WITH INVESTOPEDIA | | | | | |
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