IB Economics SL 4.3.2 Arguments against trade protection
IB Economics SL 4.3.2 Arguments against trade protection
Students practise explaining why trade protection undermines efficiency, triggers retaliation, and harms consumers—using diagrams, welfare analysis, and real-world consequences…
How this is tested
- explain how tariffs raise domestic prices, shrink consumer surplus, and create deadweight loss
- define a trade war as reciprocal tariffs, then assess its effects on welfare and output