international economics, free trade, protectionism
Free trade is the trade of goods and services without forms of trade protectionism. Buyers and sellers from different economies may voluntarily trade without a government applying tariffs, quotas, subsidies or exclusions on goods and services. In modern economies, governments do not necessarily abandon all control of imports and exports. For example, campaigns to encourage UK consumers to ‘Buy British,’ or legislative restrictions such as the ban on importing firearms, are two forms of trade protection.
Your organisation does not have access to this article.
Sign up today to give your students the edge they need to achieve their best grades with subject expertise
Subscribe
