Principles of Macroeconomics / Unit 17 MAC 1614 short lesson, about 20 seconds
Three Forms of Protection
Captions available
The idea
Protectionism blocks imports three ways. A tariff taxes them and raises their price. An import quota caps the quantity allowed in. A nontariff barrier uses rules, standards and paperwork to raise the cost of importing.
In practice
A safety standard can restrict trade as well as a tax.
Where people slip
The witness names only the first two; the third rests on the anchor alone.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Unlocks
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