When government levies import duties which varies with prices of commodities imported , it is called

Related MCQs

• When a uniform rate of duty is imposed on all similar commodities irrespective of the country from which they are imported, it is called
• When the export prices of a country relatively rises to its import prices, its terms of trade are said to have
• A quota system which allows a certain specified quantity of a commodity to be imported duty free or at a low rate of import duty is
• When a country’s import price relatively rises to its export prices,
• The physical limitation of quantities of different products to be imported from foreign countries within a specified period of time is called
• The quota system in which domestic producers of a quota fixing country are required to make use of both domestic raw materials and a specified proportion of imported raw materials to produce a product
• In balance of payments account, all goods exported and imported are recorded in
• The ratio between the price of a country’s export goods to its import goods is called
• An increase in domestic production of goods due to imposition of import quota is called
• The difference in the domestic cost ratios of producing two commodities in two countries is known as