Free trade vs protectionism
ID:CVFTP
Video Overview
In this tutorial you will be introduced to two very important terms regarding international trade. The first is “Free Trade,” which refers to goods being able to move freely between countries without any barriers, such as quotas, tariffs, subsidies, taxes, and so on that are put in place by the countries’ governments. The second is ”Protectionism,” which refers to measures put in place by the government of the country concerned to restrict trade with other countries in order to give local producers of goods and services an advantage over foreign competitors.
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