Why is 'tax on imports known as a trade barrier ? -SST 10th

1 Answer

Answer :

Tax on imports is a trade barrier because it is a restriction set by the government to regulate foreign trade and what kind of goods is traded.

Related questions

Description : Why is ‘tax’ on imports known as a trade barrier ? -SST 10th

Last Answer : Tax on imports imposed by the government to regulate foreign trade and investment is known as a trade barrier. Government imposed barriers on foreign trade and investment for the following ... only such commodities were allowed which were quite necessary, for example, machinery and petroleum.

Description : Why is ‘tax’ on imports known as trade barrier? -SST 10th

Last Answer : Trade barrier means restrictions imposed on import and export of goods. It is called so because some restrictions have been set up. The trade barriers provide protection to domestic goods from ... death blow to growing industries in India. Hence, India allowed imports of only essential goods.

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : (3) Balance of Trade Explanation: Balance of Trade refers to the difference between the value of a country's visible imports and visible exports. Also known as the visible balance, it forms part of ... totals more than the value of visible exports, it is known as an adverse balance of trade.

Description : A country's balance of trade is unfavorable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavorable (4) None of these

Last Answer : (2) imports exceed exports Explanation: The balance of trade, or net exports is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the ... is imported: a negative balance is referred to as a trade deficit or, informally, a trade gap.

Description : A favorable Balance of Trade of a country implies that - (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Last Answer : (2) Exports are greater than Imports Explanation: Favorable balance of trade is an imbalance in a nation's balance of trade in which the payments for merchandise exports received by the country exceed ... and income. A balance of trade surplus is often the source of a balance of payments surplus.

Description : The difference between visible exports and visible imports is defined as - (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Last Answer : (1) Balance of trade Explanation: The balance of trade (or net exports, sometimes symbolized as NX) is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the relationship between a nation's imports and exports.

Description : Trade Gap means A. Gap between total GDP and total consumption B. Gap between total imports and total exports C. Gap between available liquidity and expected demand in next five months D. Gap between budgeted revenue collection and actual collection of the same E. None of the above

Last Answer : B. Gap between total imports and total exports Explanation: The amount by which the value of a country‘s visible imports exceeds that of visible exports; an unfavourable balance of trade.

Description : One of the problems of development planning in developing country is (a) Increase of literacy rate (b) Low rate of economic growth (c) Incompetent in foreign trade (d) High imports

Last Answer : (c) Incompetent in foreign trade

Description : The _____________ is the difference in value between a nation's exports and its imports 1. balance of payments 2. export / import ratio 3. gross domestic product 4. net trade value 5. balance of trade

Last Answer : balance of trade

Description : Terms of trade of a country show A. Ratio of goods exported and imported B. Ratio of import duties C. Ratio of prices of exports and imports D. (a) and (c) as given above

Last Answer : Ratio of prices of exports and imports

Description : Quantitative restrictions refer to limit set by countries to curb A. Measures that affect trade in goods. B. Measures that lead to restrictions in quantities. C. Discouraging measures that limit a company’s imports. D. Discouraging measures that limit a company’s exports.

Last Answer : Discouraging measures that limit a company’s exports.

Description : What records a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? a) Trade deficit b) Capital Budget c) Foreign imports d) Balance of Payments or BoP

Last Answer : b) other things remaining equal

Description : e __________ is the difference in value between a nation's exports and its imports. A)balance of payments B)export/import ratio C)gross domestic product D)net trade value E)balance of trade

Last Answer : A)balance of payments

Description : Gains from trade can be divided into two parts (a) gains from exports and gains from imports. (b) gains from specialization and gains from exchange. © gains from consumption and gains from production. (d) gains from profit and gains from loss.

Last Answer : (b) gains from specialization and gains from exchange.

Description : . Terms of trade is (a) the ratio of imports / exports (b) the ratio of exports/imports © the ratio of goods/services (d) the ratio of land/labour

Last Answer : (b) the ratio of exports/imports

Description : A favourable Balance of Trade of a country implies that (1) Imports are greater than Exports (2) Exports are greater than Imports (3) Both Imports and Exports are equal (4) Rising Imports and Falling Exports

Last Answer :  Exports are greater than Imports

Description : The difference between visible exports and visible imports is defined as (1) Balance of trade (2) Balance of payment (3) Balanced terms of trade (4) Gains from trade

Last Answer :  Balance of trade

Description : A country’s balance of trade is unfavourable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavourable (4) None of these

Last Answer : imports exceed exports

Description : The difference in the value of visible exports and visible imports is called : (1) Balance Sheet of items (2) Balance of Payments (3) Balance of Trade (4) Balance of Account

Last Answer : Balance of Trade

Description : 'Quota' is - (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Last Answer : (3) limit on the quantity of imports Explanation: An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of ... production of a good, service, or activity, thus "protect" domestic production by restricting foreign competition.

Description : Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a government ... spending to fall d. a government budget deficit raises American exports and lowers American imports

Last Answer : c. a government budget deficit raises interest rates and causes investment spending to fall

Description : 10. Crowding out means that a. a government budget deficit lowers interest rates and causes investment spending to rise b. an increase in marginal tax rates lowers production c. a ... investment spending to fall d. a government budget deficit raises American exports and lowers American imports

Last Answer : c. a government budget deficit raises interest rates and causes investment spending to fall

Description : ‘Quota’ is (1) tax levied on imports (2) imports of capital goods (3) limit on the quantity of imports (4) limit on the quantity of exports

Last Answer : limit on the quantity of imports

Description : Why India removed trade barrier by 1991 ? -SST 10th

Last Answer : 'In the New Economic Policy of 1991, India removed trade barriers because: India was lacing a serious economic crisis in 1990-91 because of slow economic growth, inefficient public ... industries. The government felt that foreign competition would in fact improve the quality of goods.

Description : What is meant by trade barrier ? -SST 10th

Last Answer : Trade barrier refers to the tax put on import by the government to discourage imports.

Description : Name an important barrier on foreign trade. -SST 10th

Last Answer : An important barrier to foreign trade is a tax on imports.

Description : What is a trade barrier ? Why did the Indian Government put up trade barriers after Independence ? Explain. -SST 10th

Last Answer : Trade barrier refers to the tax put on import by the government to discourage imports. Indian government put trade barriers because: 1. Industries were just coming up in the 1950s and ... put to protect the domestic producers from such competition. Imports of only essential goods were encouraged.

Description : What is meant by trade barrier ? -SST 10th

Last Answer : Barriers or restrictions that are imposed by government on free import and export activities are called trade barrier. Tax on imports is a vital trade barrier. Government can use the trade barriers in the ... can decide what kinds of goods and how much of each, should be traded in the country.

Description : Why had the Indian Government put barrier to foreign trade and foreign investment after independence? State any one reason. -SST 10th

Last Answer : The Indian government, after Independence, had put barriers to foreign trade and foreign investment because this was considered necessary to protect the producers within the country from foreign competition.

Description : Why had the Indian Government put barrier to foreign trade and foreign investment after independence ? -SST 10th

Last Answer : The protect the producers within the country from foreign competition.

Description : What kind of trade barrier is being described here?

Last Answer : no description given**

Description : The records of exports and imports in goods and services and transfer payments is known as a) Current account b) Budget surplus c) Economic leakage d) degree of openness

Last Answer : a) Current account

Description : A government’s restriction on the quantity of imports of a country is known as (a) Export quota (b) Import quota © Import rent. (d) Embargo.

Last Answer : (b) Import quota

Description : .A tariff that is levied as a fixed charge per unit of imports is known as a (a) Specific tariff (b) Ad- valorem tariff © Import tariff (d) Export tariff.

Last Answer : a) Specific tariff

Description : Why were the British worried about imports from other countries? -SST 10th

Last Answer : . As cotton industries developed in England, industrial groups began worrying about imports from other countries. . They pressurised the government to impose import duties on cotton textiles so that ... by 1850, cotton piece goods constituted over 31 per cent of the value of Indian imports.

Description : Handling of exports and imports on a large scale is done conveniently from the Kandla port. Why ? -SST 10th

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Description : Explain visible imports of globalisation on the Indian Economy, with two examples. -SST 10th

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Description : Pick up the correct statement from the following: (A) An artificial barrier which makes the enclosed area safe for anchorage of ships, is known as break water (B) The break water whose inside is used ... wall is governed by the length of the largest vessel likely to be berthed (D) All the above

Last Answer : (D) All the above

Description : What is known about Australia’s Great Barrier Reef? (A) It is the world’s largest coral reef. (B) It is in Queensland. (C) It extends for over 2,000 kilometres. (D) All of the above.

Last Answer : (D) All of the above. 

Description : What are your state/province/city's major imports and exports?

Last Answer : answer:Pineapples Our biggest industry is tourism.

Description : What were Frances majoir exports and imports during the French revolution?

Last Answer : For sure I can tell you cotton and fur pelts. I would assume tobacco as well. Spices from the East Indies maybe? The big ones back in the 18th century were cotton, tobacco, sugar, spices, ... big ones. (Those would virtually all be imports though, not sure about the exports revolutionary fever?)

Description : Which is better, muscle cars or imports?

Last Answer : Honda Civic, technology is the replacement for displacement.

Description : Which Indian port leads in imports? -Do You Know?

Last Answer : answer:

Description : How is the difference between visible exports and visible imports defined? -Do You Know?

Last Answer : answer:

Description : What percentage of Bangladesh's total imports come from India ?

Last Answer : 15 percent of Bangladesh's total imports come from India.

Description : What percentage of Bangladesh's total imports come from China ?

Last Answer : 26 percent of Bangladesh's total imports come from China.

Description : Assertion (A): In post NEP imports of the country has increased. 

Last Answer : Assertion and Reasoning questions: Assertion (A): In post NEP imports of the country has increased. ... (R) is not the correct explanation of (A)

Description : What are the U.S. main imports?

Last Answer : Need answer

Description : What does Indiana imports?

Last Answer : Indiana imports parts andaccessories for motor vehicles.