| aidemia--modules-lessonstartideas_type | Give a creative idea how to begin a lesson |
| Which subject | Business |
| What age group | Year or Grade 11 |
| What topic | Tarrifs |
| Quantity | 1 |
| Any other preferences |
Welcome to today's lesson on tariffs! Before we dive into the details, I want to start with a thought-provoking scenario that illustrates the real-world implications of tariffs in our global economy.
Imagine you’re the owner of "ChocoLux," a local chocolate manufacturing company in the United States. Your chocolates are beloved by many, and orders are pouring in from around the globe, especially from Europe. You’ve been excited about the opportunity to expand overseas, particularly in countries where gourmet chocolate is in high demand.
However, just as you’re about to finalize your expansion plan, a new tariff is announced by the U.S. government on imported cocoa from Europe. Suddenly, the cost of your main ingredient skyrockets, affecting your profit margins.
What are tariffs, and how do they affect the cost of goods?
Think about how increased costs might impact your pricing strategy. Would you pass this cost onto your customers or absorb it to stay competitive?
How do tariffs influence international trade?
Consider how your decision to export chocolates may change if foreign markets impose their own tariffs on imported goods.
What are the broader economic implications?
Reflect on how tariffs can impact employment, consumer choices, and the overall economy. Does it benefit any specific sectors while disadvantaging others?
After we discuss these questions, we'll break into small groups to explore case studies of recent tariff changes in various industries. You'll analyze how these changes have affected businesses, consumer behavior, and the overall market.
By diving into the chocolate dilemma, we can set the stage for understanding the nuances of tariffs, their impact on businesses like yours, and the global economy as a whole. Let’s explore this sweet (and sometimes bitter) subject together!
Get ready to unravel the complexities of tariffs and their significance in today’s interconnected world!