Effective Rate of Protection: Concept and Limitations | Economics
In this article we will discuss about:- 1. Concept of Effective Rate of Protection 2. Assumptions of Effective Rate of Protection 3. Importance 4. Limitations. Concept of Effective Rate of Protection: Until the early 1960's, the official rate of tariff was intended to discourage the import of final product and to promote the domestic production in the protected industry. The [...]