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 Ap Econ Unit 3 International Trade FlashcardsQuizlet 2019-2025

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hi everybody Jacob Reed here from review econ.com today we're going to be talking about international trade and tariffs if after watching this video you still need a little more help head over to review econ.com and pick up the total review booklet it has everything you need to know to Ace your microeconomics and macroeconomics exams let's get into the content so so far within this unit we've been focusing on oddarchy that is when countries are independent and they don't trade with other countries within the world and we're going to start off this lesson with that assumption so we're going to have the domestic supply and demand of course with our supply and demand graph we have price on that y-axis and quantity on the x-axis we have an upward sloping supply curve downward sloping demand curve but these are going to be our domestic Supply and domestic demand now so we're going to add D to the supply curve to make it domestic Supply

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