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How Free Trade Increases Economic Welfare I 60 Second Economics
1:43
YouTubetutor2u
How Free Trade Increases Economic Welfare I 60 Second Economics
Free trade can lead to a net increase in economic welfare by allowing countries to specialise according to comparative advantage and trade at a lower world price. When imports enter a domestic market, prices fall, causing domestic demand to expand and domestic supply to contract, with imports filling the gap. Consumers gain significantly ...
1.4K views2 days ago
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Study.comJan 5, 2016
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