Micro 2.9 Trade and Tariffs

[@melaniechase]

2:09 Graph when a country trades and the world price is lower than the domestic 2:46 quantity demanded at world price -- quantity supplied domestically = imported quantity 3:07 This video helped me a bit with understanding how consumer surplus changes with trade. 6:39 Tariffs on imports Thank you!

[@ReviewEcon]

You're very welcome! 😄

[@trushankjadhav1050]

Very helpful 👌

[@ReviewEcon]

I'm so glad!! Good luck with your studies!

[@Mouath99]

Hello i have a question but i need to show you the picture how can i show you?

[@ReviewEcon]

You can contact me through any game page on ReviewEcon.com. Click report error. There is a screenshot upload as part of that contact form. 😄

[@Mouath99]

@@ReviewEcon I can’t find it but anyway i will try to explain When we have a tariff the consumer surplus will be under or above the tariff because in the college board video they showed two graphs one is above the tariff and one under the tariff but the one which is under tariff the question was asking about the change in consumer surplus

[@ReviewEcon]

When the world price is above the domestic price, the economy will export the goods and producer surplus will be really large. When the world price is below the domestic price, the economy will import the goods and consumer surplus will be really really large. Did I answer your question?

[@Mouath99]

@@ReviewEcon i tried to send the picture through reporting but it says the size of the photo is large

[@Mouath99]

Never mind i have sent the picture you can check it

[@eldarmoldabergenov7869]

The best video you can get to understand international trade!Thank you very much!So clear and well-explained

[@ReviewEcon]

You're too kind. Thank you and you're very welcome!

[@vivekmalik5541]

Helpful video! Though I didn't get quotas clearly

[@ReviewEcon]

I cover it at a very surface level because that's all that's needed on the AP micro exam. Here's more details if you need them. kzbin.info/www/bejne/fZ2xiH2CZtSbiNUsi=ALOmclih4f_jtTy_

[@vivekmalik5541]

@@ReviewEcon thanks ...yeah just saw it It's written that drawing there graph is excluded... So we just need to comprehend:)

[@ColeMassaro-p2o]

Very helpful. Thank you!

[@ReviewEcon]

You're very welcome!