Question

question 7 of 10
what is an example of a tariff?
a fee a business adds to imported goods in their shop to earn more money
a tax a government adds to imported goods to make them more expensive
a limit a local business puts on certain goods to save space on their shelves
a limit set by the government on how much of a good can be imported

Explanation:

A tariff is a tax imposed by a government on imported (or sometimes exported) goods. Let's analyze each option:

• The first option is incorrect because tariffs are imposed by governments, not businesses to increase their own profits.
• The second option is correct as it matches the definition of a tariff: a government - imposed tax on imported goods to make them more expensive (which can protect domestic industries, for example).
• The third option is incorrect as it describes a business - imposed limit on goods for shelf - space, not a tariff.
• The fourth option describes a quota (a limit on the quantity of a good that can be imported), not a tariff.

Answer:

B. A tax a government adds to imported goods to make them more expensive