Question
Tariffs and quotas in the trade issues are used to ______.
The correct answer is
protect domestic companies
Tariffs and quotas are used to protect domestic companies from foreign competition.
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Important Questions from Economic and Financial Affairs
- As per Deloitte, how much will AI in healthcare boost India's GDP by 2025?
- Tariff reforms were central to the liberalisation of trade. What happened to import tariffs after 1991?
- Privatisation under the 1991 reforms primarily involved:
- Which of the following sectors was the primary focus of India's First Five-Year Plan (1951-56)?
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