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qifeng liang
on Nov 17, 2024

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When a country that imports shoes imposes a tariff on shoes, buyers of shoes in that country become worse off and sellers of shoes in that country become better off.

Tariff

A tax imposed by a government on goods and services imported from other countries.

Imports

Imports are goods or services brought into one country from another for sale, usually regulated by the government with tariffs, quotas, or trade agreements.

Buyers

Individuals or entities that purchase goods or services for personal use, resale, or production.

  • Analyze the effects of tariffs and quotas on domestic producers, consumers, and government revenue.
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Kearra AshfordNov 17, 2024
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