Level 77
Level 78

Free Trade & Protectionism


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free trade
: takes place between countries when there are no barriers to trade put in place by governments or international organizations. Goods and services are allowed to move freely between countries.
dumping
Exporting a product at a price below the price it normally sells for in its home market. This is usually done to build market share.
Tariff
A government tax on imports or exports
subsidy
A government payment that supports a business or market.
Level 79