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Free trade
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Details
Free trade is a type of trade policy that allows traders to act and transact without interference from government. According to the law of comparative advantage the policy permits trading partners mutual gains from trade of goods and services. Under a free trade policy, prices are a reflection of true supply and demand, and are the sole determinant of resource allocation. Free trade differs from other forms of trade policy where the allocation of goods and services amongst trading countries are determined by artificial prices that do not reflect the true nature of supply and demand. These artificial prices are the result of protectionist trade policies, whereby governments intervene in the market through price adjustments and supply restrictions. Such government interventions generally increase the cost of goods and services to both consumers and producers.
Weitere Informationen
- Allgemeine Informationen
- GTIN 09786130278267
- Editor Frederic P. Miller, Agnes F. Vandome, John McBrewster
- Sprache Englisch
- Größe H220mm x B150mm x T11mm
- Jahr 2010
- EAN 9786130278267
- Format Fachbuch
- ISBN 978-613-0-27826-7
- Titel Free trade
- Untertitel Timeline of international trade, Protectionism, Free trade area, Free trade debate, Free trade zone, Fair trade, International trade, Trade barrier, Trade war, Dumping (pricing policy)
- Gewicht 284g
- Herausgeber Alphascript Publishing
- Anzahl Seiten 180
- Genre Wirtschaft
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