Tag Archives | Free Trade

Free Trade: Advantages and Disadvantages | Economics

In this article we will discuss about the advantages and disadvantages of free trade. Advantages of Free Trade: The advocates of free trade put forward the following advantages of free trade: (a) International Specialization: Free trade causes international special­isation as it enables the different countries to produce those goods in which they have comparative advantage. International trade enables countries to [...]

By |2017-01-13T05:55:13+05:30January 13, 2017|Free Trade|Comments Off on Free Trade: Advantages and Disadvantages | Economics

Advantages of Free Trade between Two Countries

Get the answer of: What are the Advantages of Free Trade between Two Countries? Trade between nations is based on Ricardian principle of compara­tive advantage. Ricardo cited the example of England and Portugal in this context. Both the countries can produce cloth and wine. But England is relatively more efficient in cloth production and Portugal in wine. Thus if each [...]

By |2017-01-13T05:55:12+05:30January 13, 2017|Free Trade|Comments Off on Advantages of Free Trade between Two Countries
Go to Top