Choose if the given statement is True/False.

Tax on imports is an example of a trade barrier.

see full answer

Start JEE / NEET / Foundation preparation at rupees 99/day !!

21% of IItians & 23% of AIIMS delhi doctors are from Sri Chaitanya institute !!

An Intiative by Sri Chaitanya

True

False

answer is A.

(Unlock A.I Detailed Solution for FREE)

Ready to Test Your Skills?

Check your Performance Today with our Free Mock Test used by Toppers!

Take Free Test

Detailed Solution

The above statement is true.
Tax on imports is an example of a trade barrier. Trade barrier refers to the restrictions that the government imposes for the following reasons:

The government imposes an import tax to regulate the country's foreign trade. If there were no restrictions, then imported goods might capture the domestic market, ultimately a loss for the producers of local goods.

The government decides what type of goods should be imported into the country.

Government looks after the number of goods imported into the country.

Watch 3-min video & get full concept clarity

Result Producing online coaching for JEE/NEET of south India

Largest All India Test Series for JEE/NEET

Best Books for IIT JEE

Best Books for NEET

How to Join IIT after 10th