Raising Tariffs
$100: A tariff is this type of charge placed on goods brought into a country.
What is a tax on imports?
Lowering tariffs generally makes imported products do this for shoppers.
What is become less expensive?
$100: The basic economic problem created because people’s wants are unlimited but resources are limited.
What is scarcity?
$100: This annual music recap tells listeners their top artists, songs, and genres.
What is spotify wrapped?
$100: This animal has three hearts.
What is an octopus?
$200: Raising tariffs can help these businesses by making foreign competitors’ goods more expensive.
What are domestic (local) producers?
When tariffs fall, consumers often have more of this because more foreign goods can enter the market.
What is choice or variety?
$200: The next-best option you give up when making a choice.
What is opportunity cost?
This short-form video app made “For You Page” part of everyday vocabulary.
\nAnswer: What is TikTok?
The only mammal capable of true flight.
What is a bat?
One possible effect of raising tariffs is that consumers may pay this at stores.
What are higher prices?
Lower tariffs can increase this among businesses because more foreign companies can sell in the market.
What is competition?
Something that motivates a person or business to take an action, such as a discount or bonus.
What is an incentive?
In gaming, this phrase means a player has reached the highest level or has extremely strong equipment.
What is “maxed out”?
This planet is famous for its rings.
What is Saturn?
When one country raises tariffs and another country responds with its own tariffs, this may begin.
What is a trade war or retaliation?
$400: A company that uses imported steel, computer parts, or fabric may benefit from lower tariffs because its production costs can do this.
What is decrease?
The idea that people and businesses tend to act in ways that benefit themselves.
What is self-interest? (benefit)
This word describes an online post that spreads quickly from person to person.
What is viral?
The world’s largest hot desert.
What is the Sahara Desert?
A government may raise tariffs to protect domestic industries from foreign competition; this policy is called
What is protectionism? (protecting from competition)
True or False: Lower tariffs can make it easier for people to buy products from other countries.
What is true?
: When you choose one option and give up another, you are making this.
What is a trade-off?
This internet phrase means intentionally ignoring a possible warning sign because you do not want to deal with it.
What is “delulu” or being delusional?
This is the largest ocean on Earth.
What is the Pacific Ocean?