Definition, Meaning & Synonyms
free-trade
noun
/friː treɪd/
Definition
Free trade is a policy that allows goods and services to be bought and sold across international borders with minimal government restrictions.
Examples
- The government has signed a free-trade agreement with several neighboring countries.
- Free trade can lead to increased competition and lower prices for consumers.
- Advocates argue that free trade stimulates innovation and development.
Meaning
The idea behind free trade is to promote unrestricted commerce between countries to enhance economic growth and efficiency.
Synonyms
- open trade
- trade liberalization
- unrestricted trade
