Economics · International Trade
What is meant by the term 'Free Trade' in international economics?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Trade where only imported goods are exempted from local consumption taxes
- 2Trade conducted via land routes without payment of any transport duties
- 3Trade where there are no state-imposed restrictions or tariffs on imports and exports✓
- 4Trade where imports are actively restricted to encourage domestic production
Correct answer
Trade where there are no state-imposed restrictions or tariffs on imports and exports
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