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To protect local manufacturers from competition a country may tax certain imports to make them more expensive. What is this tax called?
Wiki User
∙ 7y ago
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A tariff
Wiki User
∙ 7y ago
Rebecca Switzer
a teriff
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What country is capitalist and why?
The United States of America is a capitalist country. The reason for this is that the government thought it was unconstitutional for the people to be able to buy a product created by only one company. That company might make the price of that certain product incredibly high, knowing he or she has no competition from other companies.
What is it called When one nation refuses trade with another?
An embargo is the act of one country banning trade with another country. This could just be with one industry, or trade with the entire country. A cartel is when a coalition of manufacturers tries to maintain a high price on an item and limit competition. Diffusion means to spread widely. In trade, this would probably mean to distribute a product over a larger area. Tariffs are when one country charges a foreign company to sell their product in the country.
What are the types of competition in the market?
Close Competition Distant Competition Direct Competition Indirect Competition
What is it called when one nation refuses all trade with another?
An embargo is the act of one country banning trade with another country. This could just be with one industry, or trade with the entire country. A cartel is when a coalition of manufacturers tries to maintain a high price on an item and limit competition. Diffusion means to spread widely. In trade, this would probably mean to distribute a product over a larger area. Tariffs are when one country charges a foreign company to sell their product in the country.
How did high tariff affect the economy?
Factories and industries could make more money on their goods (Edit begins:) I will assume you mean the Tariff of 1828, which dramatically raised the price of manufactured goods from abroad, as well as certain raw materials. This tariff was targeted primarily at English manufacturers who produced high-quality, low-cost manufactured items in vast numbers at the time. The politicians passed the laws to protect less-efficient domestic manufacturers from competition. People across the country were forced to buy more expensive products from domestic producers. The laws had another effect on the South, since the British did not have the cash coming in from their sales in America to buy southern cotton. Cotton prices fell ad demand dropped. The South went from an agricultural boom to a bust very quickly.
What is the most common reason for a country to establish a tariff?
To reduce competition from imported goods by making them more expensive
What does caps stand for in soccer?
Cap stands for Country APearences. It signifies how many times a certain player has played for their country in international competition.
Who gains and who loses from import restrictions?
Gains: Home manufacturers may benefit when imports are restricted and competition from oversea manufacturers is lessened. Loses: Exporters from another country may find it difficult to export to a country that imposes import restrictions, or may have to raise prices to cover the import charges..
What is the most expensive country?
The most expensive country is Monaco
What is the most expensive country in Europe?
UK, with no doubt. Very expensive country to live in.
Which is the most expensive country in Africa?
Djibouti is the most expensive country in Africa
What country was in competition for Korea in the 1870s?
england
What do you mean by protectionism?
It is where the government of a country taxes certain import goods from another country. They do this to make these goods more expensive to buy so that producers of the same goods in their own country are not at a disadvantage. So they are said to be protecting their own interests.
What is libralisation and what its merits and demerits?
A liberalisation approach is opposed to closed economy. Any country which is a developing economy and also poor may not be able to withstand an international competition for its manufactured goods. So to protect their own industries within their country they follow a closed economy method whereby they will not allow the sale of goods of foreign origin in their country even if it means the foreign goods have much better quality and cheaper than domestic goods. Once such a country reaches a level of competence and an economic standing which can afford Research and Development , it should allow foreign competition so that domestic manufacturers, industrial houses invest in R&D and improve the quality of goods to survive the competition from foreign goods. The advantage is that consumers get quality goods at cheaper prices. Domestic manufacturers get out of their slumber and produce better quality goods offering better salaries to skilled workers. In addition to that sometimes domestic manufacturers can eat in to the market share of multinationals who arrived and can even buy them or takeover them. India is the best example for all this. After liberalisation many Indian companies not only withstood foreign goods or competition they had even taken over the multinational companies businesses.
What country was not in competition with Korea in the 1870's?
England
Why are whale sharks endagered?
because certain country's are polluting the water and finning them. while they serve there fins as an expensive delicacy. shark fin has no taste fin is a status food.
Which country does Phillips manufactorers originate from?
Philips manufacturers originated from the Netherlands.
