Do Sanctions Work? | Economics Explained

The video uses a bee analogy to explain the concept of sanctions, highlighting how countries use them as a non-military strategy to inflict economic damage on hostile nations. It discusses various types of sanctions, their purposes, and their impacts, particularly focusing on the recent sanctions against Russia. The video also explores the global consequences of these sanctions, such as disruptions in food and energy supplies, and considers the long-term effects on international trade and relations.

What unique strategy did the honey bees use to defend their hive from the hornet?

• They used their stingers.

• They created a heat ball.

• They built a stronger hive.

• They flew away.

What is the primary difference between economic sanctions and trade restrictions?

• Economic sanctions are always temporary.

• Trade restrictions are more severe.

• Trade restrictions are politically motivated.

• Economic sanctions are politically motivated.

Which type of sanction involves barring a country from international sporting events?

• Diplomatic sanctions

• Military sanctions

• Economic sanctions

• Sports sanctions

What was one of the major actions taken against Russia in recent sanctions?

• Blocking high-tech goods purchases

• Seizing Russian cultural artifacts

• Closing Russian embassies

• Banning Russian literature

How do sanctions on Russia potentially affect global wheat supply?

• They make wheat cheaper globally.

• They disrupt wheat exports from Russia and Ukraine.

• They have no effect on wheat supply.

• They increase wheat production.

What is a 'carve out' in the context of sanctions?

• A complete ban on all goods

• A diplomatic negotiation

• An exception for essential goods

• A type of military sanction

What is a potential consequence of asset seizures mentioned in the video?

• More international flights

• Bankruptcy of leasing companies

• Increased tourism

• Growth in the airline industry

What historical example is used to illustrate the limitations of sanctions?

• The Iraq sanctions in the 1990s

• The Vietnam War

• The Korean War

• The Cuban Missile Crisis

What is one of the three main goals of imposing sanctions on a country?

• To stop international crimes

• To boost local economies

• To increase tourism

• To promote cultural exchange

What is a potential long-term impact of sanctions on global trade?

• More free trade agreements

• Increased global cooperation

• Strengthened international alliances

• A shift towards self-sustainability