Free Trade
Definition
Free trade is an economic policy that allows businesses in different countries to trade without government interference such as tariffs or import/export restrictions.
Analogy
Consider free trade like playing an online multiplayer game with players from around the world. There are no restrictions or barriers; everyone can play freely, trade items, and interact without any interference.
Related terms
Tariff: A tax imposed by a government on goods imported from other countries.
Trade Barrier: A government-imposed restriction on the free international exchange of goods or services.
Globalization: The process by which businesses or other organizations develop international influence or start operating on an international scale.
"Free Trade" appears in:
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