ATARMAxxing · QCE Economics revision notes
Tariffs, Quotas, Subsidies and Voluntary Export Restraints
Trade Barriers
What this note covers
- 1. Why Governments Restrict Trade
- 2. Tariffs: Definition, Mechanics and Welfare Analysis
- 3. Quotas: Quantity Restrictions and the Quota Rent
- 4. Subsidies to Domestic Producers
- 5. Voluntary Export Restraints
- 6. Comparing the Welfare Effects of All Four Barriers
- 7. Australian Trade Policy Context
7 sections · 14 key terms & formulas · 5 common mistakes
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