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Why are domestic goods cheaper for consumers to purchase than imported goods?
Wiki User
∙ 9y ago
Imported goods will be costlier than the domestic, because the following costs added extra.
Transporting charges from factory to port.
Freight charges.
Import duty.
Taxes.
Transport charges from port to the buyer's warehouse.
Buyer's profit.
Distribution cost to the shops all over the country with retailer's profit.
Wiki User
∙ 9y ago
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Do you agree that consumers will be better off if they can buy foreign goods that are price is cheaper as domestic once?
no
What effect did protecrice tariffs have on the american economy?
They made American goods cheaper than imported goods A protective tariff is a duty imposed on imports to raise their price, making them less attractive to consumers and thus protecting domestic industries from foreign competition.
What protects domestic producers from foreign competition?
Tariffs on imports will raise the price of imported goods so that domestic substitutes can be cheaper. Import quotas allows a limited number of imported goods into the country. Trade embargoes is a extreme case where no imports are allowed.
Hawley Smoot tariff of 1930-what it did and what countries did as a result?
1. it raised cost of imported goods for American consumers, making it more likely that they will purchase the cheaper American goods 2. when the Europeans responded with tariffs on American goods, trade plunged
What are tariffs and how do countries use them?
A: A tariff is a tax that is placed on an imported good, they use tariffs because imported goods have a tax so citizens are more likely to purchase that countries goods for the cheaper price. -BrockChloe
Do you agree that consumers will be better off if they can buy foreign goods that are price is cheaper as domestic once?
no
What effect did protecrice tariffs have on the american economy?
They made American goods cheaper than imported goods A protective tariff is a duty imposed on imports to raise their price, making them less attractive to consumers and thus protecting domestic industries from foreign competition.
What domestic producers from foreign competition?
Tariffs on imports will raise the price of imported goods so that domestic substitutes can be cheaper. Import quotas allows a limited number of imported goods into the country. Trade embargoes is a extreme case where no imports are allowed.
What protects domestic producers from foreign competition?
Tariffs on imports will raise the price of imported goods so that domestic substitutes can be cheaper. Import quotas allows a limited number of imported goods into the country. Trade embargoes is a extreme case where no imports are allowed.
Hawley Smoot tariff of 1930-what it did and what countries did as a result?
1. it raised cost of imported goods for American consumers, making it more likely that they will purchase the cheaper American goods 2. when the Europeans responded with tariffs on American goods, trade plunged
Is there any disadvantage to a government subsidizing domestic firms to make them able to complete in price with cheaper imported goods?
Some positive elements are that it helps domestic consumers, firms and, workers. However, it could lead to inflation or an overall increase in price of products across all sectors. People may also end up paying higher taxes on goods.
What is the purpose of tariff's?
to increase the prices'
What are tariffs and how do countries use them?
A: A tariff is a tax that is placed on an imported good, they use tariffs because imported goods have a tax so citizens are more likely to purchase that countries goods for the cheaper price. -BrockChloe
Why would some US consumers decide to purchase these good if cheaper goods were availble?
The perceived value of the good is greater than the extra cost
Why would some U.S. consumers decide to purchase these goods if cheaper goods were available?
The perceived value of the good is greater than the extra cost.
What is the protectionist perspective on international trade?
Since protectionist policies have tariffs/restrictive import quotas/voluntary export restraints on imports, domestic consumers do not want to buy imported goods. In the long run, however, that allows domestic goods to raise their prices to create competition, eventually raising the prices for consumers anyway. Also, protective industries focus more on competition and price than quality, so often times consumers are getting overpriced products that are not well made.
How much money did Cheaper by the Dozen gross domestically?
Cheaper by the Dozen grossed $138,614,544 in the domestic market.
