Tariffs EXPLAINED

[@absntz4556]

your vids coming in clutch for my exams thanks bud.

[@mrsymonds]

This is my goal. Hope the exams were buttery smooth. Thanks for watching

[@absntz4556]

@@mrsymonds thanks bro I was confident walking out of my exam. I’ll let you know when I get my results next week bro. 🤟🤟🤟

[@mrsymonds]

@@absntz4556 For sure let me know. Good luck yo

[@rishabhashokkumar1997]

Hey is the consumer demand based on the imported goods or the domestically produced good?

[@mrsymonds]

Hey -- consumer demand is the demand for goods in general -- domestic or imported. So if Pw is below Pe, there will be excess demand and the gap between D and S will be filled by imports. Hope this helps.

[@thomastang3505]

explained really well thx

[@mrsymonds]

Thanks Thomas. Appreciate the feedback

[@thomastang3505]

@@mrsymonds can you make a video about analyse the effects of a sustained increase in a CAD on the Australian economy and how government respond to balance of payment

[@mrsymonds]

@@thomastang3505 Can do. Look out for it in the next week or so.

[@mrsymonds]

I've finally taken a look at this! Please see here: kzbin.info/www/bejne/eISum2BohZyckNE

[@krishnaparmar5735]

If demand for the good decreases, and supply for the good increases, isn't that a contraction of demand and an expansion of supply?

[@mrsymonds]

Hi Krishna -- have you considered a career as an economics teacher? You're 100% correct. Because there is a shift in price -- due to the tariff -- demand for M contracts and demand for X expands. Thanks for clarifying. For those of you at home: this is around 5mins in the video.

[@mrsymonds]

Also -- I actually realised this mistake and put a small clarification in the description too!