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  • Card 12 / 16:
    From the Work It Out "Effects of Trade Barriers," you can see that a tariff raises the price of imports. What is interesting is that the price rises by less than the amount of the tariff. Who pays the rest of the tariff amount? Can you show this graphically?

    The course author didn't provide an answer for this question

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Questions & Answers

what is the law of diminishing marginal utility
Samuel Reply
what is demand
Isatu Reply
other things can be equal an certain amount paid for the goods by consumer in the market called demand.
Dhanishhwar
demand is the amount of a commodity a consumer is willing and able buy at a given price at a particular point in time
Samuel
what is economics
Owusu Reply
meaning of economics
Agyei Reply
what is a columnist
Owusu
what are the four basic assumptions of perfect competition
Liyanda Reply
There is a well known maximum by economic that states that the birthd of money is the deaths of batter system discuss the statement
PHILIP Reply
how does price elasticity increase
Anuoluwapo Reply
What is real GDP
Klaudia Reply
Real GDP is a way of adjusting our output calculations for inflation so that we can see group interms of physical production quantity
Minalu
Real gross domestic product is a macroeconomic measure of the value of economic output adjusted for price changes. This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output
amisha
what is economics
Preet Reply
Economics is the study of human behavior between scarcity and want.
Vincent
yesss thats it
Tendai
economics is the study of man and his behaviors
toheeb
yh all is correct
Paul
ECONOMICS IS THE STUDY OF,HOW HUMAN BEINGS MADE DECISIONS IN THE TIME OF SCARCITY.
Bakshi
According to Professor Lionel Robbins" Economics is a science which study human behaviour as a relationship between ends and scarce means which have alternative uses".
Paul
According to Adam Smith, "Economics is a science which inquired into the nature and cause of wealth of nations. "
Tannu
economics is a science that studies human behaviour as a relationship between ends and scarce means which have alternative uses
Efua
everyone is correct
Ruth
More questions
Paul
what is elasticity
RELEBOHILE Reply
a consumer has income of$3,000 wine is price at$3 a glass and cheese is price at$6 a kilo.draw the consumer's budget constraint . what is the slope of this budget constraint
Mohammed Reply
h
Thulani
by scientific method we mean
Lethu Reply
Inductive and deductive method
Bethuel
when  are producers willing to supply more goods and services in the market?
Ivan Reply
think about the essential goods that you need "on daily basis" .Are they really all essentials ..Could you live without some of them?
Ivan
what is scarcity
Azolingo Reply
Economics is a science which studies human behaviour as a relationship between ends and scarce which have alternative uses
Tannu
thanks
Rabiu
Whn demand of resources and more then it's availability or supply.
Abhishek
when there's less resources
Maybrien
scarcity is a situation where resources are not enough to satisfy all wants
Efua
types and characteristics of inflation in South Africa
Okuhle Reply

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Source:  OpenStax, Principles of economics. OpenStax CNX. Sep 19, 2014 Download for free at http://legacy.cnx.org/content/col11613/1.11
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