Advantages And Disadvantages Of Free Trade

912 Words4 Pages
+ consumers can choose from a plethora of products, unlike when there is monopoly in the market. Prevents customer exploitation +Free trade is the only type of truly fair trade because it offers consumers the most choices and the best opportunities to improve their standard of living. + specialization, By being able to specialize in products they have plenty of materials of, they can increase productivity + promotes productive competition that is good for economic growth It fosters competition, spurring companies to innovate and develop better products and to bring more of their goods and services to market, keeping prices low and quality high in order to retain or increase their market share. (foning) +enlarged market Free trade widens the size of the market as a result of which greater specialisation and a more complex division of labour become possible. This brings about optimum production with costs reduced everywhere, benefiting the world as a whole. + It creates employment opportunities. A clear advantage of free trade advocates point out is the need for more workers by the exporting country. With its market expanding globally, the demand for goods and services increase. Because of this, more labor force is necessary to ensure delivery and consequently, more jobs are available for the people. + full advantage of large-scale production. So, free trade increases the world production and the world consumption of internationally traded goods as every trading country
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