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SS3: ECONOMICS - 1ST TERM

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  1. Basic Tools for Economic Analysis I | Week 1
    4 Topics
  2. Economic Lessons from Asian Tigers II | Week 2
    6 Topics
    |
    1 Quiz
  3. Human Capital Development I | Week 3
    2 Topics
  4. Human Capital Development II | Week 4
    2 Topics
    |
    1 Quiz
  5. Petroleum and the Nigeria Economy I | Week 5
    3 Topics
  6. Petroleum and the Nigeria Economy II | Week 6
    3 Topics
    |
    1 Quiz
  7. Manufacturing and Construction | Week 7
    3 Topics
    |
    1 Quiz
  8. Services Industries | Week 8
    3 Topics
    |
    1 Quiz
  9. Agencies that Regulate the Financial Market | Week 9
    9 Topics
    |
    1 Quiz
  10. International Trade | Week 10
    8 Topics
    |
    1 Quiz



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Lesson 10, Topic 8
In Progress

Reasons why Protectionist Laws & Tariffs are Imposed on International Trade

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There are several reasons why Protectionist Laws & Tariffs are Imposed on International Trade;

1. To correct balance of payment deficit

2. To protect infant industries

3. To generate revenue for the government

4. To discourage dumping

5. To prevent importation of harmful commodities

6. To protect importation of harmful substances

7. To check the consumption pattern of the country

8. It is also a strategy for income redistribution in order to bridge the gap between the rich and the poor

Evaluation Questions

1. Discuss the problems or difficulties encountered by international trade

2. Explain the law of comparative cost advantage

Responses

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