Question

Match each of the protectionist policies below with an example of government action that fits the definition.

Answer 1

a. tariff-----------------the government puts a high tax on sugar made in other countries.

A tariff is a tax forced on imported products and ventures.  Tariffs are utilized to limit imports by expanding the cost of products and ventures bought from abroad and making them less alluring to buyers.  

Tariffs can have unintended symptoms, be that as it may. They can make household ventures less proficient by decreasing rivalry. They can hurt local purchasers, since an absence of rivalry tends to push up costs.  

b. quota-----------------the government limits the import of sugar from other countries

A quota is a legislature forced exchange limitation that restricts the number or fiscal estimation of merchandise that a nation can import or fare amid a specific period. Nations utilize quota in universal exchange to help control the volume of exchange amongst them and different nations. Nations here and there force them on particular merchandise to decrease imports and increment residential creation. In principle, amounts support local generation by limiting remote rivalry.  

c. subsidy------------the government pays sugar farmers to keep sugar prices low.

A subsidy is an advantage given to an individual, business or foundation, for the most part by the administration. It is as a rule as a money installment or an expense decrease. The subsidy is regularly given to evacuate some kind of weight, and usually thought to be in the general enthusiasm of the general population, given to advance a social decent or a financial arrangement.

Answer 2

Tariff --> The government puts a high tax on sugar made in other countries.

Quota --> The government limits the import of sugar from other countries.

Subsidy --> The government pays sugar farmers to keep sugar prices low.

(APEX Class ;)