Question
Discuss the effects on the Supply and Demand, for goods and services in the economy, from a government intervention perspective - the application of tariffs
Discuss the effects on the Supply and Demand, for goods and services in the economy, from a government intervention perspective - the application of tariffs on certain imported goods from the country of China. This is a current social problem for the country for the foreseeable future. Relate a personal experience, that was affected by this intervention (tariffs), i.e. are you paying higher prices for certain consumer items; are certain consumer items more limited in supply, causing an increase in price because the demand for same has remained constant, or increased, causing a shortage of the consumer goods, etc. Comment on how this problem can be solved from a national economic and personal economic perspective. If you have not been affected, you can use the experience of a friend or relative. Make note of this in your discussion.
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