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Indian Economy 1950-1990 — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsIndian Economy 1950-19903 Marks
Question
Distinguish between tariffs and quotas.
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Answer

'Tarifls' are a tax levied on the imported good whereas Quotas' specify the quantity of goods which can be imported. Both are different forms of protection from the imports.

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