What is meant by the term free trade? Is free trade compatible with the concept of...
What is meant by the term free trade? Is free trade compatible with the concept of mercantilism?
Homework Answers
The term free trade means allowing the import and export of the goods without any extra taxes or tariff on the goods. For example NAFTA allowed the north american nation to free trade between them i..e the goods and services between these nations can flow through easily.
No, it is not compatible with mercatilism but its just the opposite, mercatilitsm means not allowing the imports and just exporting the goods in the market.
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