Answer:
Three objectives of a tariff are
1) To control trade between countries
2) To protect domestic industries
3) To provide a source of income
Three characteristics of a tariff are;
1) Adequate return
2) Attractive
3) Fairness
Explanation:
A tariff is an import or export tax placed on goods traded between countries, it serves to control the foreign trade between the two countries and to protect or develop local industry
A Tariff is an important source of income to countries
Three characteristics of a tariff are;
1) Adequate return
Proper return from the consumer should be factored in a tariff to account for the alternatives or normal expense pattern
2) Attractive
The tariff should be attractive to encourage consumption of electricity or complimentary goods
3) Fairness
Based on the consumption of related resources brought about by large scale utilization, large consumer tariff should be lower than those that consume less complementary resources.
