List the measure which government may take to restrict import. – NABTEB QUESTION

The measure government may take to restrict import are:

1. Import license: Government making it a rule for importers to obtain it before embarking on importation
2. Devaluation of local currency: This will make the importation to be very costly
3. Stiff exchange control regulation: This makes it difficult for importers to obtain foreign exchange to pay for the commodities he might like to import.
4. By encouraging the use of home made products.
5. Imposition of import duties: Heavy tariff which will increase the prices of the goods thus people will desist from buying foreign goods.
6. Quotas: This is discriminatory measure in that a limit is set to the quantity of some goods imported from certain countries.
7. Tax exemption: The government may decide to give out right help to home manufacturers in terms of exempting them from taxes.