Protecting Local Industries: Trade Barriers
Students will discuss why some people want to protect local businesses from foreign competition using tools like taxes on imports (tariffs) and limits on foreign goods (quotas).
About This Topic
Students will discuss why some people want to protect local businesses from foreign competition using tools like taxes on imports (tariffs) and limits on foreign goods (quotas).
Key Questions
- Why might a country want to limit goods coming from other countries?
- What are tariffs and quotas, and how do they affect prices?
- What are the good and bad things about protecting local industries?
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