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Free Trade
International trade in which government of a country do not impose any restriction on the trade.
No restriction
2 advantages of free trade
Increased exports
Increased competitionwh
What is Protectionism
Protection of domestic industries from international competition
What is the world's 2 largest national economies
China and United States
Define Tariff
Tax imposed on certain types of imported good to enter a country. Can important source of state revenues.
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