Activity 01
Supply-Demand Simulation: Tariff Graph Challenge
Provide printed supply-demand graphs for a good like steel. Students draw the import supply curve, add a tariff line to shift it up, then label new equilibrium price, quantity imported, and domestic production gain. Pairs discuss consumer surplus loss. Conclude with class share-out of findings.
Explain how tariffs affect the price and quantity of imported goods.
Facilitation TipDuring the Supply-Demand Simulation, circulate to ensure pairs correctly label deadweight loss triangles on their hand-drawn graphs.
What to look forProvide students with a scenario: 'Country X imposes a 10% tariff on imported televisions.' Ask them to write two sentences explaining how this tariff will likely affect the price of televisions in Country X and one sentence explaining who benefits and who loses from this policy.