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Tariffs

Tariffs. To explain Tariffs To illustrate Tariffs To analyse Tariffs. Tariffs. DBQ: Using a diagram , explain how Free Trade would benefit a LEDC , like Burma. Tariffs. To explain Tariffs To illustrate Tariffs To analyse Tariffs. Tariffs. A tax on imports. Price P1 P3

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Tariffs

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  1. Tariffs To explain Tariffs To illustrate Tariffs To analyse Tariffs

  2. Tariffs DBQ: Using a diagram, explain how Free Trade would benefit a LEDC, like Burma

  3. Tariffs To explain Tariffs To illustrate Tariffs To analyse Tariffs

  4. Tariffs A tax on imports

  5. Price P1 P3 P2 D S x c y z S3 S2 0 qd qt q3 q2 Quantity (units per year) Tariffs

  6. Tariffs Tariff (tax) increases price to P3. Efficient domestic producers benefit if they can sell below price, P3. Tax revenue illustrated by area xyzc.

  7. Tariffs Advantages: Protects domestic firms Stops ‘dumping’ of cheap imports Revenue for government Disadvantages: Higher prices & less choice for consumers Retaliation

  8. Homework Comment on the case for restricting imports, such as the US tariffs, in a time of recession To hand in next Tuesday

  9. Tariffs DBT: Do you think Tariffs work? Explain your answer

  10. Tariffs Plenary: Draw the Tariff diagram Briefly explain why tariffs would stifle economic growth

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