Crunch some numbers and gain a more comprehensive understanding of the concept of net gain after international trade, as well as how this affects domestic producers and consumers. Instructional content also includes a discussion of tariffs, how consumer and producer surpluses respond, and how we calculate tariff revenue. 

Concepts

international trade, the global economy, globalization

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Additional Tags

international trade, globalization, social studies

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Classroom Considerations

If projecting video to whole group, be prepared to stop in order for class members to respond to interactive questions presented by instructor during the clip. 

• This video is hosted on YouTube

Pros

• Presenter includes a detailed review of concepts in a brief amount of time, which could be very beneficial for summarizing or as a flipped classroom resource

Cons

• Speaker moves very quickly through concepts, which could be confusing for learners who watch the video on their own. 

Common Core

RH.11-12.2