QUESTION IMAGE
Question
tariffs and subsidies are both types of positive and negative incentives. economic benefits for the consumer. monetary restrictions for the domestic producer. economic benefits for the international producer.
Brief Explanations
Tariffs are taxes on imports (negative incentive for imports as they make foreign goods more expensive). Subsidies are financial aids (positive incentive for domestic producers as they lower production costs). Both aim to influence economic behavior related to production and trade.
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positive and negative incentives.