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Chapter 6 Tariffs - Coggle Diagram
Chapter 6 Tariffs
When you import something you are buying it an export, in turn, is a sale
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JAN JAKUB TYSZKIEWICS 'factors that make it more profitable to produce a good in one place instead if another can be divided into two type ;intervention-based and market-based'.
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-having better conditional to operate a business translates into an ability to compete with other companies more effectively where possible
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Trade Restrictions
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While it is generally accepted that free trade maximizes world output and benefits all nations, most nations impose some form of restrictions on the free flow of international trade
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-Consumers face higher prices for cars, leaving less disposable income for buying other goods. Therefore, other domestic industries may see a fall in demand – leading to less employment
-If the US place tariffs on car imports. Other countries – Japan, EU may retaliate and place tariffs on US exports – leading to less employment in export industries that are internationally competitive.
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