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Import Tariffs and Economic Welfare

Level:
A-Level, IB Diploma
Board:
AQA, Edexcel, Eduqas, IB, OCR, WJEC

Last updated 26 Aug 2020

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This short revision video looks at the impact of an import tariff on consumer and producer welfare.

Key exam point: Each country must consider the strength of the arguments for and against trade restrictions – often on a case-by-case basis. A lot might depend for example on the economic circumstances prevailing at a given time and their longer-term trade and development strategy.

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