Macroeconomics › Section T · International trade › Topic T.4
The benefits of reducing trade barriers
Comparative advantage, learning and scale only pay off if goods can actually cross borders. This topic looks at the main barrier, the tariff, and at what countries gain when they bring barriers down.
In this topic
- What a tariff is
- Two ways to set a tariff
- Worked example: ad valorem or specific?
- A long fall in barriers
- Gains from lowering a tariff
- Worked example: removing a tariff
- Gains that are hard to measure
- Who gains most
- Barriers rising again
- Common mistakes to avoid
- Key takeaways
This topic is part of Wuanberri Pro. Checking your access…