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:
“I have great faith in ‘ordinary parents.’ Who has a child’s welfare more at heart than his ordinary parent? It’s been my experience that when parents are given the skills to be more helpful, not only are they able to use these skills, but they infuse them with a warmth and a style that is uniquely their own.”
—Haim Ginott (20th century)
“Because just as arms have no force outside if there is no counsel within a house, study is vain and counsel useless that is not put to virtuous effect when the time calls.”
—François Rabelais (1494–1553)
“We are the trade union for pensioners and children, the trade union for the disabled and the sick ... the trade union for the nation as a whole.”
—Edward Heath (b. 1916)
“Unfortunately, we cannot rely solely on employers seeing that it is in their self-interest to change the workplace. Since the benefits of family-friendly policies are long-term, they may not be immediately visible or quantifiable; companies tend to look for success in the bottom line. On a deeper level, we are asking those in power to change the rules by which they themselves succeeded and with which they identify.”
—Anne C. Weisberg (20th century)