A tariff is a tax imposed on

JAMB Economics 2023 206 views
Source: JAMB · 2023

A tariff is a tax imposed on

  1. Imported goods ✓
  2. Exported goods
  3. Domestic goods
  4. Consumer goods
Explanation

A tariff is a tax placed on imported goods. It is also called a customs duty and is collected at the border, such as at a Nigerian port.

It makes foreign goods dearer and so protects local producers. A tax on exports is an export duty.

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