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3 years ago

Tariffs and subsidies are both types of

2 answers:

7 0

The correct answer is incentives

They are incentives for the local economy to develop. Subsidiaries are like loans that you get from the state and they help you develop your business because the country is not gonna torture you for money like a bank would. Tariffs are used to protect the local economy from import of foreign goods by making local goods more accessible which helps the local businesses.

user100 [1]3 years ago

6 0

Tariffs and subsidies are both types of <u>incentives.</u>

Tariffs and subsidies are one of the most types of economic incentives. Both incentives are geared towards developing the local economy.

<h2>Further Explanation</h2>

Tariffs are created to protect local industries, especially industries that are in their early stages of development.

Tariffs are used for some many reasons and some of these reasons include:

To raise revenue
To protect domestic employment
To protect local consumers
To protect infant industries from foreign competition
Also as a Retaliation strategy

There are many types of tariffs but the 2 main types the government imposed on imported goods include:

Ad valorem tax: deals with the percentage of the value of goods or products
Specific tariff: it is a tax levied that depends on a certain fee per product quantity or the weights of an item.

Subsidies are financial assistance that the government offers businesses. Subsidies are used to support businesses to boost their operations, particularly businesses that the government has interest in.

<u>For Examples</u>, one of the common subsidies in the United States is Agricultural subsidies whereby the federal government gives out billions of dollars to support farmers.

Some other types of US government subsidies also include

Health care
Environmental
Export
Ethanol
Oil
Housing

LEARN MORE:

Tariffs and subsidies are both types of brainly.com/question/8808035
types of incentives brainly.com/question/11459749

KEYWORDS:

incentives
tariffs
subsidies
types
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