Definitions
- Referring to a fee or charge for using a particular road, bridge, or tunnel. - Talking about the cost or consequence of a particular action or decision. - Describing the sound of a bell ringing mournfully.
- Referring to a tax or duty imposed on imported or exported goods. - Talking about a schedule or list of fees or charges for services or products. - Describing a system of rates or charges for transportation or communication services.
List of Similarities
- 1Both involve fees or charges.
- 2Both can be used to regulate trade or commerce.
- 3Both can have an impact on the economy.
- 4Both are used in financial contexts.
- 5Both can be imposed by governments or organizations.
What is the difference?
- 1Scope: Toll usually refers to a specific fee or charge for a particular service or use, while tariff can refer to a broader system of fees or charges.
- 2Application: Toll is often applied to transportation or infrastructure, while tariff is more commonly associated with trade and commerce.
- 3Purpose: Toll is often used to cover the cost of providing a service or maintaining infrastructure, while tariff is often used to generate revenue or protect domestic industries.
- 4Imposition: Toll is often imposed by local authorities or private companies, while tariff is usually imposed by national governments.
- 5Connotation: Toll can have a negative connotation due to its association with fees or charges, while tariff can have a neutral or positive connotation due to its association with trade and commerce.
Remember this!
Toll and tariff are both financial terms that involve fees or charges. However, toll usually refers to a specific fee or charge for a particular service or use, such as crossing a bridge or using a road, while tariff refers to a broader system of fees or charges, often related to trade and commerce. Additionally, toll is often used to cover the cost of providing a service or maintaining infrastructure, while tariff is often used to generate revenue or protect domestic industries.
