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Unit 4 Ch 4 : Globalization and the Indian Economy — Social Studies STD 10 — Question

CBSE BoardEnglish MediumSTD 10Social StudiesUnit 4 Ch 4 : Globalization and the Indian Economy1 Mark
Question
What is tariff? Why is it imposed on goods?
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Answer

Tariff is a tax imposed on imported goods and services. Tariffs are used to restrict trade, as they increase the price of imported goods and services, making them more expensive to consumers.

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