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| Name | What is an import duty? |
| Video Uploader | Video From Kalkine Media |
| Upload Date | This Video Uploaded At 12-07-2021 23:45:00 |
| Video Discription | Import duty is a tax imposed on goods purchased from another country. It is a form of trade barrier introduced to restrict international trade. Import duties are levied to generate revenue for the government and protect domestic sellers in the economy. Especially in cases where there is a product with relatively inelastic demand, the quantity demanded does not decline with the rise in price caused by the imposition of import duty. There are various good with negative externalities. Import duty could be a decision by the government to control its purchase and consumption to protect from the negative externalities. Consumer surplus is the difference between what the consumer is willing to pay and what he/ she actually pays. It is the area enclosed below the demand curve and above the price line. #importduty #consumersurplus #elasticdemand #kalkinemedia To get more updates about Australia, NZ, UK, Canada and US stock market news, investors education & insights, subscribe our channel at https://bit.ly/3cHKioy Check out our media Website 👉 https://kalkinemedia.com/au Follow us and stay updated on the Go with the Market Charter 👇👇 Facebook - https://www.facebook.com/kalkineau/ Twitter - https://twitter.com/kalkineau LinkedIn - https://www.linkedin.com/company/4829818 |
| Category | News & Politics |
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