Protectionism

Article on Voluntary Export Restraints:

[sunniflowers]

Hi! Thanks for the informative video !

[littlekingsqueenscartoonch]

sir, how does the domestic demand falls from 900 to 650 after quotes of 200 units have been imposed and plus the domestic supply should be 700 plus the 200 units to make up the 900 quantity demanded and sir does this diagram of quota and supply actually appear on CIE As mcqs.

[TheSwamisaran]

can you please provide me references from where the information was taken, I​ need to use your video for an assignment

[miriamkopelevich]

Hi, I have question to the quota! If government make quota for 200 units, how you derive from this condition, that domestic supply for world will be 450? Quotas works only in domestic area not on world market?

[ngoanhtuan]

excuse me, I wanna ask you a question : tariffs, import duties and quotas, export subsidies, embargoes, voluntary export restraints and excessive administrative burdens are common tools of protectionism. That's right??
Thanks in advance

[littlekingsqueenscartoonch]

what is deadweight loss, I am confused

[informallyformal]

The world tried protectionist trade policies once before during the Great Depression, and it failed miserably. In the end, it ends up hurting the consumers. However, countries do have some form of protectionism, from time to time, especially to protect 'Infant Industries' and guard against 'Dumping'. But most of these policies should be time bound, otherwise it ends up hurting the very people whose interests you are trying to protect.