[PDF] advantages of free trade

The advantages include greater access to low-priced, high-quality goods, lower prices overall, greater efficiency and innovation in production, increased economic development and living standards, and overall economic growth.
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  • What are the advantages and disadvantages of free trade?

    The advantages of free trade are the development of economies of scale, increased competition, specialisation, and reduction of monopolies. Free trade can cause both welfare losses and welfare gains. In the world of free trade, welfare is transferred away from domestic firms to domestic customers.
  • Not only does free trade allow foreign-owned companies to establish themselves in developing countries, it also allows native companies to sell to foreign markets. This expands their customer base and leads to new products and services and the viability of investing in innovation.
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