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The correct concept is protectionism, which uses trade barriers to protect domestic industries from foreign competition."},{"text":"Globalisation removes domestic industries from international markets.","correct":false,"explanation":"Globalisation generally increases international integration and competition, rather than protecting domestic firms. Protectionism is the policy that uses barriers to shield domestic industries from foreign competition."},{"text":"Comparative advantage prevents imports from competing with domestic industries.","correct":false,"explanation":"Comparative advantage explains why countries specialise and trade; it does not prevent imports. Protectionism uses barriers to shield domestic industries from foreign competition."}]},{"id":"9aa10a3d-983b-490c-8edc-deb3927afcb8","cardType":"basic","points":2,"front":"Why can an infant industry argument justify restricting free trade?","back":"Infant industry protection gives new firms time to grow, exploit economies of scale and become competitive.","mcqOptions":[{"text":"Infant industry protection gives new firms time to grow, exploit economies of scale and become competitive.","correct":true,"explanation":"Temporary protection can give new domestic firms time to increase output, reduce average costs through economies of scale and become competitive with established foreign producers."},{"text":"Infant industry protection permanently prevents new firms from facing any competition.","correct":false,"explanation":"The argument is for temporary support while firms develop, not permanent isolation. Infant industry protection gives new firms time to grow, exploit economies of scale and become competitive."},{"text":"Infant industry protection forces established foreign firms to transfer their profits overseas.","correct":false,"explanation":"Infant industry protection concerns developing domestic firms, not transferring foreign profits. Its justification is that temporary protection helps new firms grow, gain economies of scale and become competitive."},{"text":"Infant industry protection reduces domestic firms’ output so they avoid economies of scale.","correct":false,"explanation":"Reducing output would make economies of scale harder to achieve. The argument is that protection gives new firms time to grow output, exploit economies of scale and become competitive."}]},{"id":"9a1182e0-0aec-41ab-983e-a62467ec1df7","cardType":"basic","points":2,"front":"Why might anti-dumping action be taken against foreign firms?","back":"Dumping is exporting goods below cost or below the home-market price, often to eliminate rivals.","mcqOptions":[{"text":"Dumping is exporting goods below cost or below the home-market price, often to eliminate rivals.","correct":true,"explanation":"Dumping can involve selling exports below production cost or below the price charged at home, potentially driving competitors out before prices rise later."},{"text":"Dumping is importing goods above cost to reward efficient foreign firms.","correct":false,"explanation":"Selling imports above cost is not dumping. Dumping means exporting below cost or below the home-market price, often with the aim of eliminating competing firms."},{"text":"Dumping is exporting goods at the same price charged in the home market.","correct":false,"explanation":"Charging the same price at home and abroad does not meet the relevant definition. Dumping involves exports priced below cost or below the foreign firm’s home-market price."},{"text":"Dumping is restricting exports to protect foreign competitors from domestic firms.","correct":false,"explanation":"Dumping is a pricing practice by foreign exporters, not an export restriction. Anti-dumping action may respond when goods are sold below cost or the home-market price to eliminate rivals."}]},{"id":"aca114e3-a40c-42c6-9095-5aaa3bfbd1fe","cardType":"basic","points":3,"front":"What two domestic objectives can protection help achieve?","back":"

Protect jobs in threatened domestic industries.
Safeguard strategic sectors such as food and defence.

","mcqOptions":[{"text":"

Protect jobs in threatened domestic industries.
Safeguard strategic sectors such as food and defence.

","correct":true,"explanation":"Protection can preserve employment in industries threatened by imports and maintain capacity in strategically important sectors, including food production and defence-related industries."},{"text":"

Increase imports into threatened domestic industries.
Remove strategic sectors such as food and defence.

","correct":false,"explanation":"Trade restrictions are intended to reduce import competition and preserve strategic capacity, not increase imports or remove key sectors. The correct objectives are protecting jobs and safeguarding strategic sectors."},{"text":"

Reduce jobs in protected domestic industries.
Privatise strategic sectors such as food and defence.

","correct":false,"explanation":"Protection is justified domestically by preserving employment and strategic production, not deliberately reducing jobs or changing ownership. The correct objectives are protecting jobs and safeguarding strategic sectors."},{"text":"

Protect foreign jobs from domestic industries.
Safeguard luxury sectors such as fashion and tourism.

","correct":false,"explanation":"Protection primarily supports domestic employment and strategically important production. It does not primarily protect foreign jobs or focus on luxury sectors such as fashion and tourism."}]},{"id":"6f4850f4-846b-44b7-9bff-66ee1c4932e1","cardType":"basic","points":3,"front":"What two macroeconomic reasons can justify trade restrictions?","back":"

Raise government revenue, especially in developing economies.
Reduce a current account deficit by lowering imports.

","mcqOptions":[{"text":"

Raise government revenue, especially in developing economies.
Reduce a current account deficit by lowering imports.

","correct":true,"explanation":"Import taxes can provide government revenue, particularly where collection systems are limited, while reducing imports may improve the current account balance by lowering spending abroad."},{"text":"

Reduce government revenue, especially in developing economies.
Increase a current account deficit by lowering imports.

","correct":false,"explanation":"Tariffs generally raise revenue, and lower imports tend to reduce a current account deficit rather than increase it. The correct reasons are raising revenue and reducing the deficit."},{"text":"

Raise government revenue, especially in developed economies.
Reduce a current account deficit by increasing imports.

","correct":false,"explanation":"Revenue from tariffs is especially important in some developing economies, and reducing imports helps the current account. Increasing imports would normally worsen, not reduce, the deficit."},{"text":"

Increase government spending, especially in developing economies.
Reduce a current account surplus by lowering imports.

","correct":false,"explanation":"The relevant fiscal benefit is raising government revenue, while the external objective is reducing a current account deficit. Lowering imports would not be used to reduce an existing surplus."}]},{"id":"6fde483f-fca8-4609-bfdb-50824a14628d","cardType":"basic","points":1,"front":"What is a tariff, and what happens to the price of imports?","back":"A tariff is a tax on imports that raises their price.","mcqOptions":[{"text":"A tariff is a tax on imports that raises their price.","correct":true,"explanation":"A tariff is an import tax. It increases the domestic price of imported goods above the world price by the amount of the tariff, assuming the tariff is fully passed on."},{"text":"A tariff is a physical limit on imports that fixes their quantity.","correct":false,"explanation":"A physical limit on import quantity is a quota. A tariff is a tax on imports, and that tax raises the domestic price of imported goods."},{"text":"A tariff is a subsidy on imports that lowers their price.","correct":false,"explanation":"A tariff taxes imports and raises their price; it is not a subsidy. A subsidy would reduce producers’ costs or prices rather than impose a charge on imported goods."},{"text":"A tariff is a ban on imports that removes their price.","correct":false,"explanation":"A complete import ban is an embargo, not a tariff. A tariff permits imports but charges a tax on them, raising their domestic price."}]},{"id":"13f918c8-7887-41e8-99cd-88fecc25e8cc","cardType":"basic","points":1,"front":"What is a quota?","back":"A quota is a physical limit on the quantity of a good that may be imported.","mcqOptions":[{"text":"A quota is a physical limit on the quantity of a good that may be imported.","correct":true,"explanation":"A quota directly restricts the permitted quantity of imports. Unlike a tariff, it is a quantitative limit rather than a tax applied to each imported unit."},{"text":"A quota is a tax charged on every imported unit.","correct":false,"explanation":"A tax on each imported unit is a tariff. A quota is a direct physical limit on the quantity of a good that may enter the country."},{"text":"A quota is a subsidy paid to foreign exporters.","correct":false,"explanation":"A quota does not subsidise foreign exporters. It restricts the physical quantity imported, whereas a tariff is the trade barrier that taxes imported units."},{"text":"A quota is a complete prohibition on all international trade.","correct":false,"explanation":"A quota limits imports to a specified amount but does not necessarily prohibit them completely. A total prohibition would be an embargo or import ban."}]},{"id":"2b686d9b-978c-4eda-acc6-4c7b1d2f4517","cardType":"basic","points":2,"front":"How can a subsidy to domestic producers restrict imports?","back":"A domestic producer subsidy lowers home firms' costs, allowing them to undercut imports.","mcqOptions":[{"text":"A domestic producer subsidy lowers home firms' costs, allowing them to undercut imports.","correct":true,"explanation":"A subsidy reduces domestic producers’ effective costs, enabling them to charge lower prices or increase supply and compete more successfully against imported goods."},{"text":"A domestic consumer subsidy raises home firms' costs, allowing imports to undercut them.","correct":false,"explanation":"This reverses the mechanism and changes producers to consumers. A domestic producer subsidy lowers home firms’ costs, helping them undercut imports and restrict import demand."},{"text":"A foreign producer subsidy lowers home firms' costs, allowing them to undercut imports.","correct":false,"explanation":"A subsidy paid to foreign producers would generally make imports more competitive, not lower domestic firms’ costs. The relevant policy is a domestic producer subsidy."},{"text":"A domestic producer tax lowers home firms' costs, allowing them to undercut imports.","correct":false,"explanation":"A tax raises firms’ costs rather than lowering them, making domestic producers less competitive. A domestic producer subsidy lowers costs and helps them undercut imports."}]},{"id":"91f67c00-66c8-4609-a48c-546c5971cdf8","cardType":"basic","points":3,"front":"What are four examples of non-tariff barriers?","back":"

Regulations and standards
Import licensing
Embargoes
Administrative red tape

","mcqOptions":[{"text":"

Regulations and standards
Import licensing
Embargoes
Administrative red tape

","correct":true,"explanation":"These are non-tariff barriers because they restrict or discourage imports without imposing a conventional import tax. They operate through rules, permissions, bans and administrative requirements."},{"text":"

Tariffs and taxes
Import licensing
Embargoes
Administrative red tape

","correct":false,"explanation":"Tariffs and import taxes are tariff barriers, not non-tariff barriers. The four examples are regulations and standards, import licensing, embargoes and administrative red tape."},{"text":"

Regulations and standards
Export subsidies
Embargoes
Administrative red tape

","correct":false,"explanation":"Export subsidies support exporters rather than acting as import restrictions. The relevant non-tariff examples include import licensing alongside regulations, embargoes and administrative red tape."},{"text":"

Regulations and standards
Import licensing
Free trade agreements
Administrative red tape

","correct":false,"explanation":"Free trade agreements generally reduce barriers rather than restrict imports. Embargoes, alongside regulations, licensing and administrative red tape, are the required non-tariff examples."}]},{"id":"9ecb5fdb-07bc-479c-88c4-e05470558848","cardType":"basic","points":1,"front":"If the world price is £10 and the tariff is £2, what is the domestic price?","back":"$P_{domestic}=P_{world}+t$, so $10+£2=£12$.","mcqOptions":[{"text":"$P_{domestic}=P_{world}+t$, so $10+£2=£12$.","correct":true,"explanation":"The domestic price equals the world price plus the tariff: £10 + £2 = £12. The tariff raises the import price by £2 in the domestic market."},{"text":"$P_{domestic}=P_{world}-t$, so $10-£2=£8$.","correct":false,"explanation":"Subtracting the tariff incorrectly treats it as a price reduction. Import taxes are added to the world price, so the correct domestic price is £12."},{"text":"$P_{domestic}=P_{world}\\times t$, so $10\\times£2=£20$.","correct":false,"explanation":"Multiplying the world price by the tariff confuses an additive tax with a percentage change. The £2 tariff is added to £10, giving the correct price of £12."},{"text":"$P_{domestic}=P_{world}$, so $£10=£10$.","correct":false,"explanation":"Ignoring the tariff leaves the price at the world price, which would apply under free trade. Adding the £2 import tax gives the correct domestic price of £12."}]},{"id":"a7d4a6a7-6161-4319-a7f3-9afa47444510","cardType":"basic","points":1,"front":"What happens to import volumes when a tariff raises the domestic price?","back":"Imports fall because the tariff raises the domestic price above the world price.","mcqOptions":[{"text":"Imports fall because the tariff raises the domestic price above the world price.","correct":true,"explanation":"The higher domestic price reduces consumers’ demand for imports and encourages domestic supply, so the quantity imported falls when a tariff is imposed."},{"text":"Imports rise because the tariff makes foreign goods more expensive.","correct":false,"explanation":"Higher prices usually reduce quantity demanded, so more expensive imports are purchased in smaller quantities. Imports fall because the tariff raises the domestic price above the world price."},{"text":"Imports stay unchanged because consumers ignore the tariff.","correct":false,"explanation":"Consumers respond to the higher price by reducing their purchases, while domestic producers may supply more. Therefore imports fall rather than remaining unchanged."},{"text":"Imports fall to zero because any tariff bans foreign goods.","correct":false,"explanation":"A tariff taxes imports but does not automatically ban them. Imports usually fall, but some remain available unless the tariff is effectively prohibitive."}]},{"id":"ddfac78f-d2c2-4a78-8e63-e742c7ddf9fa","cardType":"basic","points":1,"front":"How is government tariff revenue calculated?","back":"$\\text{tariff revenue}=t\\times Q_{imports}$, where $Q_{imports}$ is the quantity still imported.","mcqOptions":[{"text":"$\\text{tariff revenue}=t\\times Q_{imports}$, where $Q_{imports}$ is the quantity still imported.","correct":true,"explanation":"Government tariff revenue equals the tax charged per imported unit multiplied by the quantity imported after the tariff. The relevant quantity is imports that remain, not the original volume."},{"text":"$\\text{tariff revenue}=P_{world}\\times Q_{imports}$, where $Q_{imports}$ is the quantity still imported.","correct":false,"explanation":"The world price measures the value of imports, not the government’s tax receipts. Revenue comes from multiplying the tariff per unit by the quantity still imported."},{"text":"$\\text{tariff revenue}=t+Q_{imports}$, where $Q_{imports}$ is the quantity still imported.","correct":false,"explanation":"Adding the tariff and quantity is not meaningful for calculating revenue. Each unit generates tariff t, so revenue is t multiplied by the quantity still imported."},{"text":"$\\text{tariff revenue}=t\\times Q_{domestic}$, where $Q_{imports}$ is the quantity still imported.","correct":false,"explanation":"Tariff revenue is collected only on imported units, not domestic output. The correct calculation multiplies the tariff per unit by the quantity of imports remaining."}]},{"id":"fb02fc56-482a-43c8-94c8-fc9073156dee","cardType":"basic","points":2,"front":"Why does a quota differ from a tariff in its effect on government revenue?","back":"A quota yields no government revenue; the scarcity gain goes to import-licence holders.","mcqOptions":[{"text":"A quota yields no government revenue; the scarcity gain goes to import-licence holders.","correct":true,"explanation":"A quota restricts quantity without automatically charging a tax. The resulting scarcity rent generally goes to firms holding import licences, unless the government sells or auctions those licences."},{"text":"A quota yields higher government revenue; the scarcity gain goes directly to taxpayers.","correct":false,"explanation":"A quota does not automatically generate government revenue like a tariff. Its scarcity gain normally goes to import-licence holders, although auctioning licences could create revenue."},{"text":"A quota yields no government revenue; the scarcity gain goes to domestic consumers.","correct":false,"explanation":"Consumers usually face higher prices under a quota and do not receive the scarcity gain. That gain generally accrues to import-licence holders rather than consumers."},{"text":"A quota yields tariff revenue; the scarcity gain goes to foreign governments.","correct":false,"explanation":"A quota is a quantity restriction, not a tariff, so it does not produce tariff revenue. Scarcity gains generally go to licence holders, not foreign governments."}]},{"id":"65d6cf32-d2cd-49f6-9660-78ec49f95e18","cardType":"basic","points":2,"front":"How does a tariff affect consumers?","back":"

Consumers lose because prices rise and purchases fall.
Consumer surplus falls.

","mcqOptions":[{"text":"

Consumers lose because prices rise and purchases fall.
Consumer surplus falls.

","correct":true,"explanation":"A tariff raises the domestic price, reducing consumers’ purchasing power and the quantity bought. These changes reduce the area of consumer surplus in the market."},{"text":"

Consumers gain because prices rise and purchases increase.
Consumer surplus rises.

","correct":false,"explanation":"Higher prices normally reduce purchases and make consumers worse off. A tariff causes consumers to lose and reduces consumer surplus rather than increasing either measure."},{"text":"

Consumers lose because prices fall and purchases rise.
Consumer surplus falls.

","correct":false,"explanation":"The welfare conclusion is partly right, but the price effect is reversed. A tariff raises prices and reduces purchases, which causes consumers to lose and consumer surplus to fall."},{"text":"

Consumers gain because prices fall and purchases rise.
Consumer surplus falls.

","correct":false,"explanation":"A tariff does not lower prices, and consumers would not gain from reduced consumer surplus. The tariff raises prices, reduces purchases and lowers consumer surplus."}]},{"id":"5b5a4790-40c8-42f0-853f-4e8090792b33","cardType":"basic","points":2,"front":"How does a tariff affect domestic producers?","back":"

Domestic producers gain from the higher price.
They supply a larger quantity.

","mcqOptions":[{"text":"

Domestic producers gain from the higher price.
They supply a larger quantity.

","correct":true,"explanation":"The tariff raises the domestic market price, allowing domestic firms to receive more per unit and making additional production profitable, so their producer surplus and quantity supplied increase."},{"text":"

Domestic producers lose from the higher price.
They supply a smaller quantity.

","correct":false,"explanation":"A higher market price generally benefits domestic suppliers and encourages them to produce more. The correct effects are a gain for domestic producers and a larger quantity supplied."},{"text":"

Domestic producers gain from the lower price.
They supply a larger quantity.

","correct":false,"explanation":"Domestic producers may gain and supply more, but the tariff raises rather than lowers the domestic price. The correct explanation links their gain and larger supply to the higher price."},{"text":"

Domestic producers gain from the higher price.
They supply a smaller quantity.

","correct":false,"explanation":"The higher price benefits domestic producers, but it also creates an incentive to expand output along the supply curve. Therefore the quantity supplied becomes larger, not smaller."}]},{"id":"0febb018-b6e9-41eb-9092-78cbb330bd19","cardType":"basic","points":2,"front":"Why does tariff protection cause a net efficiency loss?","back":"The two welfare triangles represent deadweight welfare loss, creating a net efficiency loss.","mcqOptions":[{"text":"The two welfare triangles represent deadweight welfare loss, creating a net efficiency loss.","correct":true,"explanation":"A tariff creates production inefficiency as higher-cost domestic output replaces imports and consumption inefficiency as consumers buy less. The two triangles together are deadweight welfare loss."},{"text":"The two welfare triangles represent consumer surplus gain, creating a net efficiency gain.","correct":false,"explanation":"The triangles represent efficiency losses from distorted production and consumption, not consumer surplus gains. The tariff creates a net efficiency loss through deadweight welfare loss."},{"text":"The two welfare triangles represent producer surplus gain, creating a net efficiency gain.","correct":false,"explanation":"Domestic producers gain surplus, but that gain is not represented by both welfare triangles and does not eliminate the distortions. The triangles are deadweight welfare loss."},{"text":"The two welfare triangles represent government tariff revenue, creating a net efficiency loss.","correct":false,"explanation":"Government tariff revenue is shown by a rectangular area, calculated as the tariff multiplied by imports. The two triangles represent deadweight welfare loss and cause the net efficiency loss."}]},{"id":"673d25fd-8db1-4e3d-9aef-5c76ae6b192f","cardType":"basic","points":3,"front":"Why can protection reduce living standards?","back":"

Prices rise, reducing consumers' purchasing power.
Sheltered producers may become less efficient over time.

","mcqOptions":[{"text":"

Prices rise, reducing consumers' purchasing power.
Sheltered producers may become less efficient over time.

","correct":true,"explanation":"Protection restricts cheaper imports, allowing domestic prices to rise and reducing what consumers can buy. Reduced competitive pressure can also let protected firms become less efficient over time."},{"text":"

Prices fall, increasing consumers’ purchasing power.
Sheltered producers may become less efficient over time.

","correct":false,"explanation":"Protection usually reduces import competition and raises prices, rather than making goods cheaper. The correct explanation combines reduced purchasing power with the risk that protected firms become less efficient."},{"text":"

Prices rise, reducing consumers’ purchasing power.
Sheltered producers may become more efficient over time.

","correct":false,"explanation":"Higher prices can reduce living standards, but protection may weaken competitive pressure rather than improve efficiency. The correct answer identifies rising prices and declining efficiency among sheltered producers."},{"text":"

Prices remain unchanged, reducing consumers’ purchasing power.
Sheltered producers may become less efficient over time.

","correct":false,"explanation":"If prices stayed unchanged, consumers would not lose purchasing power through this channel. Protection can damage living standards because it raises domestic prices and may reduce firms’ efficiency."}]},{"id":"0c20ed5b-1c16-401d-b41b-bec0b05cd52b","cardType":"basic","points":2,"front":"Why are the effects of protection on equality mixed?","back":"Protection can benefit protected workers, but higher prices affect poorer consumers most severely.","mcqOptions":[{"text":"Protection can benefit protected workers, but higher prices affect poorer consumers most severely.","correct":true,"explanation":"Protection may preserve jobs and wages in import-competing industries, helping some workers. However, lower-income households spend a larger share of income on essentials, so higher prices affect them more."},{"text":"Protection can benefit protected workers, but higher prices affect richer consumers most severely.","correct":false,"explanation":"Higher prices generally impose the greatest burden on poorer households because essentials take up more of their budgets. Protection can still benefit workers in the industries receiving protection."},{"text":"Protection can harm protected workers, but higher prices affect poorer consumers most severely.","correct":false,"explanation":"Protected industries may gain support for jobs and wages, so their workers can benefit rather than be harmed directly. The distributional effect remains mixed because poorer consumers face higher prices."},{"text":"Protection can benefit protected workers, but higher prices affect all consumers equally.","correct":false,"explanation":"Consumers do not experience identical burdens because households differ in income and spending patterns. Poorer consumers are usually affected more severely, while protected workers may gain from stronger employment prospects."}]},{"id":"d17af7b8-ee73-46cd-a2c1-0cbfc135e536","cardType":"basic","points":3,"front":"Why can protection damage a country's own exports?","back":"

Trading partners may retaliate with their own tariffs.
Exports can fall during a trade war.

","mcqOptions":[{"text":"

Trading partners may retaliate with their own tariffs.
Exports can fall during a trade war.

","correct":true,"explanation":"A tariff can provoke retaliation from trading partners, reducing access to foreign markets. Escalating tariff barriers may then create a trade war in which the country’s exports decline."},{"text":"

Trading partners may retaliate with lower import prices.
Exports can rise during a trade war.

","correct":false,"explanation":"Retaliation normally involves new trade barriers, not cheaper imports for the affected country. Trade wars restrict market access, so exports are more likely to fall than rise."},{"text":"

Trading partners may subsidise the country’s exports.
Exports can fall during a trade agreement.

","correct":false,"explanation":"Trading partners commonly respond to tariffs with retaliatory barriers rather than export subsidies. The resulting deterioration is described as a trade war, which can reduce the country’s exports."},{"text":"

Trading partners may ignore the tariffs.
Exports can rise during a trade war.

","correct":false,"explanation":"The damage to exports arises because trading partners may respond with their own tariffs. Such escalation is a trade war, and the reduced foreign demand can cause exports to fall."}]},{"id":"dc599a72-a975-4abc-a618-908a00c26a50","cardType":"basic","points":2,"front":"What is a key problem with the infant industry argument?","back":"Temporary protection can become permanent because protected firms and workers resist its removal.","mcqOptions":[{"text":"Temporary protection can become permanent because protected firms and workers resist its removal.","correct":true,"explanation":"Once firms and workers benefit from protection, they may lobby to keep it in place. This creates government failure if support continues despite the industry no longer needing time to develop."},{"text":"Permanent protection can become temporary because protected firms and workers support its removal.","correct":false,"explanation":"The concern is that protection intended to be temporary becomes permanent, because beneficiaries lobby against removing it. Supporters of an infant industry argument do not normally seek immediate removal."},{"text":"Temporary protection always makes firms efficient because protected firms and workers welcome its removal.","correct":false,"explanation":"Protection can reduce competitive pressure and does not guarantee efficiency. The key problem is political resistance from beneficiaries, which may prevent temporary support from being removed."},{"text":"Temporary protection can become permanent because foreign firms and consumers demand its continuation.","correct":false,"explanation":"Foreign firms and consumers are more likely to oppose protection because it restricts trade and raises prices. Domestic protected firms and workers have the strongest incentive to lobby for continuation."}]},{"id":"61041304-47ee-4420-b08c-c2b481a30758","cardType":"cloze","points":null,"front":"On a tariff diagram, the world price is a horizontal line and the tariff shifts it [ ].","back":"On a tariff diagram, the world price is a horizontal line and the tariff shifts it upward.","mcqOptions":[{"text":"upward","correct":true,"explanation":"A tariff adds to the world price paid by domestic buyers. On the diagram, this is represented by shifting the horizontal price line upward by the amount of the tariff."},{"text":"downward","correct":false,"explanation":"A downward shift would show a lower domestic price, which is inconsistent with the tariff raising the price of imports. The tariff instead moves the relevant price line upward."},{"text":"sideways","correct":false,"explanation":"A horizontal movement would change the quantity associated with a price, not the price itself. A tariff raises the domestic price, so the horizontal line shifts vertically upward."},{"text":"outward","correct":false,"explanation":"An outward movement is not the standard representation of a tariff on a price-quantity diagram. The tariff increases the price level, shown by shifting the horizontal line upward."}]},{"id":"2203be4d-8ae8-40d3-a81f-509ffbfd72db","cardType":"cloze","points":null,"front":"A tariff raises the domestic price, so consumers buy [ ].","back":"A tariff raises the domestic price, so consumers buy less.","mcqOptions":[{"text":"less","correct":true,"explanation":"The higher price caused by the tariff leads to a contraction in quantity demanded. Consumers therefore purchase less of the imported or import-competing good at the new domestic price."},{"text":"more","correct":false,"explanation":"Buying more would contradict the law of demand: when price rises, quantity demanded normally falls, ceteris paribus. The tariff therefore causes consumers to buy less."},{"text":"the same amount","correct":false,"explanation":"Keeping purchases unchanged would ignore the response to the higher price. Along a normal demand curve, the tariff-induced price increase reduces the quantity consumers demand."},{"text":"only domestically produced goods","correct":false,"explanation":"A tariff may encourage substitution toward domestic goods, but it does not mean consumers buy exclusively from domestic producers. Overall consumption of the affected good falls as its price rises."}]},{"id":"34844fd5-760a-49b3-94bf-08da667aafd8","cardType":"cloze","points":null,"front":"A genuine infant industry may justify [ ].","back":"A genuine infant industry may justify temporary, targeted protection.","mcqOptions":[{"text":"temporary, targeted protection","correct":true,"explanation":"An infant industry argument is strongest when a promising new industry needs limited time to achieve economies of scale or learn. Protection should therefore be temporary and focused on that industry."},{"text":"permanent, economy-wide protection","correct":false,"explanation":"Permanent and broad protection removes competitive pressure and can preserve inefficient firms. The argument supports only temporary, targeted assistance while a genuinely promising industry develops."},{"text":"temporary, untargeted protection","correct":false,"explanation":"The infant industry case concerns a specific developing industry rather than every domestic producer. Support should be targeted as well as temporary, with a clear reason for intervention."},{"text":"immediate removal of all protection","correct":false,"explanation":"Immediate removal would give a new industry no time to overcome learning or scale disadvantages. A genuine case may justify temporary, targeted protection before competition is fully restored."}]},{"id":"1ec245e8-422f-41f6-93a4-9687659bac90","cardType":"cloze","points":null,"front":"Tariffs may be less appropriate than a subsidy or [ ] if these correct the problem at lower cost.","back":"Tariffs may be less appropriate than a subsidy or supply-side policy if these correct the problem at lower cost.","mcqOptions":[{"text":"supply-side policy","correct":true,"explanation":"Supply-side policies address weaknesses in productivity, skills, infrastructure, or innovation directly. If they solve the underlying problem more cheaply than restricting imports, tariffs are less appropriate."},{"text":"demand-side policy","correct":false,"explanation":"Demand-side measures mainly influence aggregate spending, inflation, or employment rather than directly fixing an industry’s productivity problem. The relevant alternative is a supply-side policy."},{"text":"exchange-rate policy","correct":false,"explanation":"Exchange-rate changes affect the price competitiveness of exports and imports across the economy, rather than necessarily correcting the specific underlying market failure. A supply-side policy may target it more directly."},{"text":"monetary policy","correct":false,"explanation":"Monetary policy changes interest rates and broader economic demand conditions. It is not usually the most direct remedy for an industry-specific productivity or competitiveness problem."}]},{"id":"be4bd554-6c24-4071-9a52-7bb62c5462b0","cardType":"cloze","points":null,"front":"Whether tariffs are justified depends partly on how [ ].","back":"Whether tariffs are justified depends partly on how trading partners respond.","mcqOptions":[{"text":"trading partners respond","correct":true,"explanation":"Tariffs may trigger retaliation, changing the effect on exports, prices, and welfare. Their justification therefore depends partly on whether trading partners respond with barriers of their own."},{"text":"domestic consumers respond","correct":false,"explanation":"Consumer responses affect domestic demand, but the international consequences of tariffs depend importantly on foreign governments and firms. Retaliation by trading partners can alter whether protection is worthwhile."},{"text":"protected firms respond","correct":false,"explanation":"Protected firms’ behaviour matters for efficiency, but it does not capture the external trade risk. Trading partners’ reactions determine whether retaliation and a wider trade war develop."},{"text":"the central bank responds","correct":false,"explanation":"A central bank may react to inflation or economic activity, but this is not the main international condition in the tariff argument. The key uncertainty is how trading partners react."}]}]}],"examCountdown":{"examDate":"2027-05-10","paperLabel":"Paper 1"},"heading":"4.1.6 Restrictions on free trade","title":"4.1.6 Restrictions on free trade Flashcards","topbar":{"backHref":"/a-level/economics/edexcel/a/flashcards"},"topicSidebar":"$L38"}]}],"topicId":"8dbe28ff-f926-5af0-ad56-c79bfe4de940","walled":"$L39"}],"$L3a","$L3b"]