Question

(ECONOMICS) Select ALL answers that apply. Protective tariffs are considered positive because _____.

Answer 1

Answer: The answers are b and c.

b. they give foreign goods a competitive edge

c. they protect local industry

Protective tariffs are considered positive because they give foreign goods a competitive edge and they protect local industry.

Explanation:

Protective tariffs refer to taxes imposed on imported goods and services in order to increase prices of imports and protect local industries from competition. It is also imposed on imported goods to encourage the growth of local industries. This makes the sales of locally produced goods to rise and imported goods to come down.

Answer 2

I believe the answer might be b and c:

Protective tariffs are a tool countries use to protect domestic industries. They can take the form of taxes, duties, fees, or other restrictions on imported goods. The purpose of protective tariffs is to foster the growth of local industries and protect them from a flood of cheap foreign goods.