Tools to Limit Trade: Tariffs and Quotas
Students will learn about specific ways governments can limit international trade, such as tariffs (taxes on imports) and quotas (limits on quantities), and their basic effects.
About This Topic
Students will learn about specific ways governments can limit international trade, such as tariffs (taxes on imports) and quotas (limits on quantities), and their basic effects.
Key Questions
- What is a tariff and how does it work?
- What is a quota and how does it work?
- How do these tools affect the prices of imported goods and the choices of consumers?
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