IB Economics-Review of Protectionist policy-Application skill

​IB Economics review-Application skill-Protectionist policies

What we know we must apply!

Application Skill Challenge 1:

What impact will the implementation of a Tariff have on the market for hats-illustrate and explain on an A3 page. Worth 6 marks

Buzz when completed​ to your satisfaction

Fun!

When applying...look to minimise small errors like labels and incorrect terminology

Application challenge 2:

Using your A3 page:

What impact will the implementation of a quota have on the market for hats​. Illustrate and explain. (6 marks)

Fun!

We need to illustrate!​

Application Challenge 3:

On your A3 page:

What impact will the implementation of a Subsidy have on the market for hats. Illustrate and explain.​ (6 marks).

Fun!

DeJaVu-the feeling we have done this before!

Poll

Which type of protectionist policy would you recommend for Malaysia if the Government decided to implement one

• Tariff

• Subsidy

• Quota

• Administrative Barrier