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Essay / Research Paper Abstract
This 5-page paper discusses issues pertaining to tariffs, nations and trade. Bibliography lists 2 sources.
Page Count:
5 pages (~225 words per page)
File: AS43_MTintarque.rtf
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Unformatted sample text from the term paper:
To answer this, lets first understand what, exactly, a tariff is. A tariff is defined as "a schedule of duties imposed by government on imported, or
in some countries, exported goods" (Tariff, 2009). In other words, a tariff is a cost of importing goods, typically levied by governments. With this definition in mind, we can understand
how this might impact less-developed nations from undergoing industrialization. We can assume that less-developed nations may not have the funds or raw
materials to move toward industrialization. In an attempt to receive these tools or materials, the nations may turn to their more industrialized counterparts for help. But these industrialized nations may
slap a fee on exports that would help the underdeveloped nation become industrialized, while placing an import on the goods that this underdeveloped nation may send (which could give it
the money, to help industrialize). Furthermore, underdeveloped nations may not be able to compete with better-developed nations when it comes to tariff
structures. If, for example, the wealthy country A was exporting flowers to wealthy country B, and wealthy country B had a high fee on the import of such flowers, this
wouldnt necessarily impact wealthy country A - it could easily absorb the fee. But if underdeveloped country C wanted to export flowers to wealthy country B, it would be able
to export less because it wouldnt be able to absorb the tariffs. Country C would also be hurt by competition from country A, which might be flooding the market with
flowers. Distinguish between consumer surplus and producer surplus. How do these concepts relate to a countrys economic welfare? These are both
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