Basic Details
Word: Tariff
Part of Speech: Noun
Meaning: A tax or fee that is added to the price of goods when they are imported or exported.
Synonyms: Duty, tax, charge
Antonyms: Subsidy, exemption
Idioms and Phrases
- Tariff wall: A barrier created by high tariffs that protects domestic industries. Example: "The government raised tariff walls to shield local farmers from foreign competition."
- Under the tariff: To be affected by the extra costs due to tariffs. Example: "Many consumers feel the pinch under the tariff applied on imported electronics."
Usage Examples
Example 1: The rise in tariffs on imported goods made many products more expensive for shoppers.
Example 2: Due to the new tariff policy, businesses are reconsidering how they source their materials from overseas.
Example 3: Countries often negotiate tariffs during trade agreements to improve their economies.
Fun Fact
The word "tariff" originates from the Arabic word "ta'arif," which means "to inform," as it was initially related to informing traders of the charges for goods.
Famous Quote
"Trade is a jet of social energy that charges through the world and enlivens our communities." - Unknown
Multiple Choice Questions (MCQs)
1. What does "tariff" mean?
a) A type of interest
b) A tax on goods
c) A measure of distance
d) A kind of insurance
Answer: b) A tax on goods
2. Which of these is a synonym of "tariff"?
a) Charge
b) Discount
c) Offer
d) Loan
Answer: a) Charge
3. Which of these is an antonym of "tariff"?
a) Price
b) Tax
c) Subsidy
d) Charge
Answer: c) Subsidy
4. Which sentence uses "tariff" correctly?
a) The tariff was happy to meet new friends.
b) The tariff on cars increased the price for buyers.
c) She likes to dance at the tariff.
d) The tariff wanted to play football.
Answer: b) The tariff on cars increased the price for buyers.
5. What does "tariff wall" refer to?
a) A physical wall
b) A barrier made by high taxes
c) A place for storing goods
d) A type of music
Answer: b) A barrier made by high taxes
