Trade Expansion
Definition
Trade expansion refers to the increase in global exchange of goods, services, and resources. This can be due to various factors such as technological advancements, new trade agreements, or economic policies that promote free trade.
Analogy
Imagine if your neighborhood started having more garage sales and everyone started buying from each other more frequently. That's like trade expansion on a much smaller scale.
Related terms
Free Trade: International trade left to its natural course without tariffs, quotas, or other restrictions.
Trade Barriers: Government-induced restrictions on international trade.
Mercantilism: Economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances.
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