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Free international trade maximizes world output through________.
Countries reducing various taxes imposed.
Countries specializing in production of goods they are best suited for.
Perfect competition between countries and other special regions
The diluting the international business laws & conditions between countries.
A free trade agreement is a pact between two or more nations to reduce barriers to imports and exports among them. Under a free trade policy, goods and services can be bought and sold across international borders with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange. The concept of free trade is the opposite of trade protectionism or economic isolationism.A government doesn't need to take specific action to promote free trade. This hands-off stance is referred to as “laissez-faire trade” or trade liberalization.
Governments with free-trade policies or agreements in place do not necessarily abandon all control of imports and exports or eliminate all protectionist policies. In modern international trade, few free trade agreements (FTAs) result in completely free trade.
By: Barka Mirza ProfileResourcesReport error
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