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International Trade and protectionism
First watch the following video: https://m
International Trade and protectionism
First watch the following video: https://mru.org/courses/principles-economics-microeconomics/tariffs-quotas-protectionism-definition and then practice what you have learned here (https://mru.org/teacher-resources/active-learning/winners-and-losers-international-trade-interactive-practice?utm_source=MRUProfs&utm_medium=Monthly&utm_campaign=MRUEmail&utm_content=Feb22-Image). then Go to the internet and find a news article published within the last month that discusses a example of a protectionist trade policy (tariff or quota) in the economy using proper economic terminology learned from the video, summarize key points and post in this Discussions area. In your post discuss the following:
– the type of policy (import tariff or import quota)
– the change that policy is causing in the market in terms of price and quantity demanded/supplied
– the impact of that policy in the economy and market (s) – the impact can be positive or negative – think about who is being affected by those policies in terms of buyers, sellers, government, workers, etc. Also, think about the inefficiency it’s causing in the economy and how it is affecting the overall system (use surplus terminology).
– Post the link of the article you find.
The article you choose may not use these exact terms; therefore, it is incumbent upon you to convert the article language into economic language as is appropriate.
Please note that the goal of this discussion is to read, understand, and discuss recent news using microeconomic terminology. The article should be from an on-line newspaper or magazine from the last two years. Materials posted on educational websites, like www.thebalance.com, www.khanacademy.org , and so on, are not considered news articles even if they were recently updated and contain material related to the discussion topic.
Reflection –you also should include a paragraph in the initial response in your own words, using microeconomic terminology, reflecting on specifically what you learned from the assignment and how you think you could apply what you learned in the workplace.
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