Economics (AS)·Protectionism · NSSCAS 6.3
Protectionism: methods & arguments
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Free trade lets the world produce more from the same resources — yet governments still put barriers in the way of imports. In this AS lesson we describe the six main methods of protection and their impact, draw the tariff diagram carefully, and then weigh the arguments for and against protectionism to reach a reasoned judgement. Namibia's membership of SACU and its common external tariff run right through the discussion.
What you'll learn in this lesson
By the end you should be able to (NSSCAS Economics (AS) 6.3):
- Describe different methods of protection and their impact: tariffs, import duties and quotas, export subsidies, embargoes, voluntary export restraints (VERs), excessive administrative burdens ('red tape')
- Discuss the arguments in favour and against protectionism
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