Question

Question No. 24
Free trade promotes efficiency
because countries under free trade
regimes
1 manage their resources
better to be able to compete
2 depends on government
subsidies
do not face much
competition
are self sufficient​

Answer 1

Answer:

Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold liberal economic positions while economically left-wing and nationalist political parties generally support protectionism,[1][2][3][4] the opposite of free trade.

Most nations are today members of the World Trade Organization multilateral trade agreements. Free trade was best exemplified by the unilateral stance of Great Britain who reduced regulations and duties on imports and exports from the mid-nineteenth century to the 1920s.[5] An alternative approach, of creating free trade areas between groups of countries