WAEC Economics 2013 Objective — Question 30
Question 30 of 50 from the West African Examinations Council (WAEC) Economics 2013 Objective paper, with the correct answer and a full explanation.
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The introduction of tariffs and quotas
- A. reduce the prices of imports
- B. increase the demand for locally made goodsCorrect
- C. discourage domestic industries from becoming more efficient
- D. reduce the prices of locally made goods
Explanation
Tariffs are an indirect tax on imported goods, making them costlier, so demand shifts towards (increases for) locally made goods.
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