Which is true regarding tariffs?

(Select all that apply.)

Tariffs can promote free trade.
Tariffs can lead to a trade freeze.
Tariffs can raise revenue for the government.
Tariffs can lead to lower consumer costs.

The correct answers are,

Explanation:

tariffs are commonly seen as a barrier to the international free trade. However, there are several reasons behind imposing tariffs.

First, if the government of a particular nation require extra tax revenue, they will increase tariffs in a bid to increase it.

Second, to protect the local industries and enterprises from foreign competition.

However, the downside of this is that the cost of imports could go high, preventing people of a nation from consuming better quality foreign goods. Also, the trade between nations will be discouraged as well.

The answer is high in developed countries and remains to grow. The tertiary sector is the one of the three economic sectors of the three-sector theory. The other two sectors are secondary sector or manufacturing and the primary sector or the raw materials. The tertiary sector contains the manufacture of services as an alternative of end products. Services consist of responsiveness, information, knowledge, access, discussion, and affective labor.