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    Explain how trade barriers raise wages in protected industries by reducing average wages economy-wide.

    Trade based on comparative advantage raises the average wage rate economy-wide, though it can reduce the incomes of import-substituting industries. By moving away from a country’s comparative advantage, trade barriers do the opposite: they give workers in protected industries an advantage, while reducing the average wage economy-wide.

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Questions & Answers

why supply is not the same quantity supplied
emmanuel Reply
What is Elasticity?
Kamara
I don't even understand
Awuah
Is a science which study human behavior as a relationship between ends and scares means which have alternative uses
BOOMBA Reply
I dont think so
Mahmood
It is Economic growth and stability
Mahmood
How Economic recovery growth Planning
Mahmood Reply
Are bonds the same as liabilities?
Anderson Reply
what is gasoline
Deepak Reply
how to know which products demand
Deepak
in other words economic can be define as what?
Ojarigho Reply
what is the difference between economics activities and economics system
Joshua Reply
what is the difference between price elasticity of demand and income elasticity of demand
Ellen Reply
what is demand
Alpha Reply
What is demand
Musa
is a measure of responsiveness at which a consumer is willing and able to offer a particular product at a given period of time
Manu
what is consumer
chill Reply
what is economics?
Odei Reply
economic development
favour Reply
what's economic activities
Mcjerry Reply
what is economic activity
Mcjerry
please can someone differentiate between an Economist view of cost and an Accountant view of cost
Mike
What's the relationship between scarcity and choice
Beverly Reply
when your income increase your demends increase
Ali Reply
what is the d/ce between cash flow and cash transection?
Ali
purchase power is demand or decrease in quantity of products in market as shortage is demand....
Baryali
urchase power is demand or decrease in quantity of products in market as shortage is demand...
Baryali
When purchasing power increases with the increase income, desire to get or purchase more quantity of goods increase which can be referred as demand. where as Shortage is a state or situation in which something needed cannot be obtained in sufficient amounts
Cool

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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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