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 an 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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