Definitions
- Referring to a fee charged for using a particular road, bridge, or tunnel. - Talking about a charge for using a specific service or facility, such as a parking lot or airport. - Describing a tax or duty levied on goods transported through a particular route or mode of transportation.
- Referring to a tax or duty imposed by a government on imported or exported goods. - Talking about a schedule of rates or charges for services provided by a business or organization. - Describing a system of fees or charges for using a particular service or facility.
List of Similarities
- 1Both involve charges or fees for using a service or facility.
- 2Both can be used to generate revenue for a government or organization.
- 3Both can be used to regulate or control the flow of goods or services.
- 4Both can affect the cost of goods or services for consumers.
- 5Both can be subject to negotiation or modification.
What is the difference?
- 1Scope: Tolls are typically limited to specific routes or facilities, while tariffs can apply to a wide range of goods or services.
- 2Purpose: Tolls are primarily used to fund the maintenance or construction of infrastructure, while tariffs are often used to protect domestic industries or generate revenue for governments.
- 3Authority: Tolls are usually set by private companies or government agencies responsible for managing the infrastructure, while tariffs are set by governments.
- 4Application: Tolls are applied at the point of use, while tariffs are applied at the point of import or export.
- 5Impact: Tolls may have a more direct impact on individual consumers, while tariffs may have a broader impact on industries or economies.
Remember this!
Tolls and tariffs are both charges or fees for using a service or facility, but they differ in scope, purpose, authority, application, and impact. Tolls are typically limited to specific routes or facilities and are used to fund infrastructure maintenance or construction, while tariffs can apply to a wide range of goods or services and are often used to protect domestic industries or generate revenue for governments.
