12th Class Geography Solved Paper - Geography 2013 Outside Delhi Set-II

  • question_answer What is free trade? Give two advantages of free trade.

    Answer:

    Free trade is a policy in international markets in which governments do not restrict imports or exports. Free trade is exemplified by the European Union/European Economic Area and the North American Free Trade Agreement, which have established open markets. Most nations are today members of the World Trade Organization (WTO) multilateral trade agreements.
    Advantages: (i) Goods and services can reach to everywhere.
    (ii) Foreign goods can compete with domestic goods.


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