Difference between revisions of "Tariff"
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| − | A tariff is a tax or custom duty on an imported [[good]]. It can take one of two forms: (1) a tax per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ad valorem tariff. | + | A tariff is a tax or custom duty on an imported [[good]]. It can take one of two forms: (1) a [[taxation|tax]] per unit, known as a specific tariff, or (2) a tax based on the value of the good, known as an ''ad valorem'' tariff. |
[[category:economics]] | [[category:economics]] | ||