Asked by Vianny Encalada on Jul 20, 2024

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Import restrictions usually benefit domestic producers at the expense of domestic consumers.

Import Restrictions

Measures that governments impose to control the amount and type of goods that enter a country, typically to protect domestic industries.

Domestic Producers

Companies or individuals that create goods and services within their own country.

Domestic Consumers

Domestic consumers are individuals or households within a country that purchase goods and services for personal use, contributing to the internal market's demand.

  • Decode the principles of taxation and their implementation for government financing.
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Lizbeth FranciscoJul 20, 2024
Final Answer :
True
Explanation :
When a country imposes import restrictions, it limits the amount of foreign goods that can be brought into the domestic market. This often results in higher prices for those goods, as well as fewer options for consumers. This benefits domestic producers because they face less competition and can charge higher prices, but it comes at the expense of domestic consumers who have to pay more for goods and may have fewer choices.