🎴 Flashcard Mode

Customs Duty: Tariffs and Exemptions

Card1 / 15
Mastered0
Review0
QuestionClick to flip

What is the primary purpose of customs duty?

AnswerClick to flip back
A
To protect domestic industries from foreign competition
💡 Explanation:

Customs duty is a tax levied on goods imported into a country. Its primary purpose is to protect domestic industries from foreign competition by making imported goods more expensive.

Change Mode