Quotulatiousness

September 2, 2015

Tariffs and Protectionism

Filed under: Economics — Tags: , , , , — Nicholas @ 05:00

Published on 25 Feb 2015

We’ll look at the costs and consequences of tariffs, quotas, and protectionism. How do tariffs affect consumers? What about producers? Who wins and who loses? Find out with this video.
We’ll apply the fundamentals we learned in the supply, demand, and equilibrium section of this course to real-world examples — like that of protectionism in the U.S. sugar industry — to determine lost gains from trade or deadweight loss, the tariff equilibrium vs. the free trade equilibrium, and the value of wasted resources as a result of tariffs.

Related posts:

  1. QotD: Tariffs are generally harmful, but persist anyway
  2. Budget Day was also apparently opposite day
  3. The Equilibrium Price
  4. Exploring Equilibrium
  5. Price Ceilings: Deadweight Loss

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