Issues of International Trade

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But, in order to trade with people from country X, citizens of Country O must pay the Tic-Tac-Toe Tariff which requires the playing of a game of tic-tac-toe and a visit to the customs officer for approval.

Through the course of the simulation students experience gains from trade, and explore the impact of tariffs.

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This is true for trade among individuals or organizations within a nation, and among individuals or organizations in different nations. Exchange is trading goods and services with people for other goods and services or money.

People voluntarily exchange goods and services because they expect to be better off after the exchange. When people buy something, they value it more than it costs them; when people sell something, they value it less than the payment they receive. When imports are restricted by public policies, consumers pay higher prices and job opportunities and profits in exporting firms decrease.

Post-it notes 1 each for half of students. Keep it simple!

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You want the game focused on trade and the impact of the tariff on trade. Check the Dum Dum website for current flavors and update handout 1 if necessary.

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While students are ranking the flavors, geographically divide the room in half EX: left and right sides or front and back and give half of the students in the room a post-it note to wear as a badge. Pass out the Dum Dums. Display Visual 2 and explain their objective and the rules for round 1.

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Illustrate with tic tac toe trading handouts an example of how they will calculate their basket, record a trade, and play tic-tac-toe tic tac toe trading round 1. Display Visual 3. Allow the round to run for minutes or long enough for most students to have traded at least 2 or 3 times. Stop the round and give students time to calculate the value of their current basket of suckers.

Опередив его, тот сам обратился к - Ты, я полагаю, Элвин. Обнаружив, что кто-то приходит сюда, я сразу должен был сообразить, что это. Этими словами он явно не собирался обидеть Элвина: он просто констатировал факт, и Элвин правильно понял. Элвин не удивился и тому, что его узнали: нравилось это ему или нет, но его особенность и связанные с ней нераскрытые потенции сделали его известным всему городу. - Я Хедрон, - продолжал незнакомец, словно это все объясняло.

Expect that some students may end up with more or fewer than 3 suckers in their basket. For example, it may have been in their interest to trade two low value suckers for one higher value sucker.

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Use Visual 3 to record and display the results for the class. Subtract the original basket value from the new basket value to find the increase in tic tac toe trading basket value. Explain that this represents the gains from trade in round 1. In the same manner collect and count the number of trades for the whole class and divide by 2 to get the total number of trades.

Each trade will be reported by both parties involved but you only want to count it once, thus the need to tic tac toe trading by 2. Use the Tic-Tac-Toe Tariff cards you collected as the customs agent to record how many international trades were conducted.

Debrief Round 1.

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Raise your hand if the value of your basket increased? Raise your hand if you participated in an international trade? How did it compare to trades you did within your own country?

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Did anyone participate in an international trade for which they did not pay a tariff? Expect that some students will go to measures to avoid or lessen the burden of the tariff. Ask why that might be and if they think that happens in the real world.

But first, they must put all their Dum Dums from round 1 away.

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Randomly distribute 3 more Dum Dums to each student. Have them calculate their basket values before trade. Collect and display the total tic tac toe trading of baskets before trade on Visual 1.

Display Visual 3: Rules for Round 2. Explain that in this round they are free to trade with anyone in any how to fund an account on binary options video. No Tic-Tac-Toe Tariff required. There will likely be more trades, greater increases in basket value, and more international trades. The tariff reduces the number of trades.

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Does the tariff eliminate international trade? It reduces trade. Who benefits from a tariff?

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Government, people producers in the domestic country, as more people in their own country will trade with them given that international trades are more costly. Who is hurt by a tariff? Who paid the tariff?

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Citizens from Country O pay the tariff directly. Who bore the cost of the tariff?

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What are the costs of the tariff? Citizens from both countries bore the costs. Both had to spend time to play the game. Both gave up time they could be trading with other people. How does the tariff in this activity compare to tariffs in the real world?

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Even though foreign sellers pay the tariff directly, the buyer shares the burden of the tariff as some of the tariff is passed on to buyers in the form of a higher price.

Foreign sellers bare some of the cost in the form of lost revenue as they will do fewer trades because of the higher cost. What would expect to happen to the amount of Chinese goods purchased by people in the U.