Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsINDUSTRIAL SECTOR3 Marks
Question
Charging high import duty is actually a way of saving industries. Explain.
✓
Answer
Import tariff:
The rate of import duty $($tax$)$ charged for importing the goods is called the import tariff.
To save the local companies from foreign companies, the government charges high import duty on foreign goods. This makes imported items costlier than the local made. As a result, the local industries can survive properly.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.