Question: please answer the following questions in your own words with...
Please answer the following questions in your own words with sufficient application of concepts along with relevant research (only from trusted sources).
How does tariff imposition affect the countries involved? How does it affect the consumers, producers and government in the short and long-run. Provide some real world examples to support your response.
How the prices of various stocks are decided? Why does the stock market fluctuates so fast? What kind of market it represents (perfect or imperfect) and why?
Key Concepts: Tariff, imports, exports, consumer surplus, producer surplus, tax revenue, total surplus, dead weight loss and perfect competition.