Welfare Effect of Trade Policies
In partial equilibrium the welfare effects on consumers who purchase and the producers who produce in the market is distinguished by consumer surplus and producer surplus.
Read more about this topic: Partial Equilibrium
Famous quotes containing the words welfare, effect, trade and/or policies:
“Whether in the field of health, education or welfare, I have put my emphasis on preventive rather than curative programs and tried to influence our elaborate, costly and ill- co-ordinated welfare organizations in that direction. Unfortunately the momentum of social work is still directed toward compensating the victims of our society for its injustices rather than eliminating those injustices.”
—Agnes E. Meyer (18871970)
“Cause and effect are two sides of one fact.”
—Ralph Waldo Emerson (18031882)
“I might be driven to sell your love for peace,
Or trade the memory of this night for food.
It well may be. I do not think I would.”
—Edna St. Vincent Millay (18921950)
“To deny the need for comprehensive child care policies is to deny a realitythat theres been a revolution in American life. Grandma doesnt live next door anymore, Mom doesnt work just because shed like a few bucks for the sugar bowl.”
—Editorial, The New York Times (September 6, 1983)