Microeconomics (Only 100 words)
Discuss the effects on the Supply and Demand, for goods and services in the economy, from a government intervention perspective – the application of tariffs on certain imported goods from the country of China. This is a current social problem for the country for the foreseeable future. Relate a personal experience, that was affected by this intervention (tariffs), i.e. are you paying higher prices for certain consumer items; are certain consumer items more limited in supply, causing an increase in price because the demand for same has remained constant, or increased, causing a shortage of the consumer goods, etc. Comment on how this problem can be solved from a national economic and personal economic perspective. If you have not been affected, you can use the experience of a friend or relative. Make note of this in your discussion.
Compose your discussion in a Microsoft Word document (.doc or .docx) of at least 100 words, with proper punctuation, accurate spelling, etc. When finished, upload your document in this Assignment sub-module accordingly. This Assignment will be graded on grammar, spelling, ethical considerations, analysis, and an understanding of the concept of government intervention through tariffs.
