*Sophie and her mom where walking back home from the park*
Mummy! can I buy this bag of chips?
But whats the difference between those two? they look similar, yet the one on the right is more expensive
oh, these ones are imported
oh I see, but why are they more expensive?
Because an importer has to pay a tax in the form of tariffs on the goods that they are importing, they pass this increased cost onto consumers in the form of higher prices.
Oh, I didn't think about that. Oh my! Why would anyone go through all that trouble?
Because sharing a product worldwide ensures; rational & optimum utilization of resources, Rapid industrial growth, International cooperation, and Better utilization of surplus production. I learned all this at school today!
So can I get the chips?
Oh my! I felt like we were at a meeting just now
Of course, love.
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