HSC Together Year 12 Economics: Methods of Protection: Tariffs

Economics

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Methods of Protection: Tariffs

Protection involves any policies used by an economy to give it an artificial advantage over foreign competitors, hence restricting imports into the domestic economy. There are several methods for protection which you learn about in HSC Economics, These include:

  • Tariffs
  • Subsidies
  • Quotas
  • Local content rules
  • Export incentives

Let’s look at tariffs first in the videos below:

 

 

 

 

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