How are tariffs, quotas, and embargos barriers to trade?

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Presentation transcript:

How are tariffs, quotas, and embargos barriers to trade? SS6E2b, SS6E6a, SS6E9c Compare and contrast different types of trade barriers such as tariffs, quotas, and embargos Instructional Approach(s): The teacher should introduce the essential question and the standard that aligns to the essential question.

Use the Factors of Voluntary Trade Graphic Organizer to take notes on Trade Barriers during this presentation. Instructional Approach(s): The teacher should give each student a copy of the Factors of Voluntary Trade [linked on the resource page] to record important information during the lesson.

Trade Barriers include: Tariff Quota Embargo Sometimes countries set up Trade Barriers to restrict trade because they want to sell and produce their own goods. Trade Barriers include: Tariff Quota Embargo Instructional Approach(s): The teacher should present the information on the slide.

Tariffs are taxes placed on imported goods. Trade Barrier: Tariff Tariffs are taxes placed on imported goods. Tariffs cause the consumer to pay a higher price for an imported item, increasing the demand for a lower-priced item produced domestically. Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.

Trade Barriers: Tariffs American Revolution Instructional Approach(s): The teacher can use the Boston Tea Party as an example of the use of tariffs.

Quotas can cause shortages that cause prices to rise. Trade Barrier: Quotas Quotas are limits on the amount of a good that can be imported into a country. Quotas can cause shortages that cause prices to rise. Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.

Trade Barrier: Embargos Embargoes forbid trade with another country. The United States had a trade embargo with South Africa during apartheid. Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.

Trade Barriers: Embargos Embargoes usually happen for political reasons. Because the United States does not want to support countries that may support terrorism, it has used embargos against Iran, Iraq, and Syria. Instructional Approach(s): The teacher should present the information on the slide while the students summarize the important information on their graphic organizer.

Trade Barrier Identification Activity Instructional Approach(s): Individually, with a partner, or as a class, students read different statements and decide whether they describe a tariff, quota or embargo.