Economics · International Trade
What is the primary purpose of levying 'customs duty' in international trade?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1To restrict the export of all indigenous goods
- 2To globally standardize consumer product specifications
- 3To protect domestic industries by taxing imported goods✓
- 4To encourage unlimited imports of foreign items
Correct answer
To protect domestic industries by taxing imported goods
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