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Free trade agreements promote open markets from "summary" of International Economics by Robert Carbaugh
Free trade agreements are designed to reduce barriers to trade between countries, such as tariffs and quotas, in order to promote economic growth and efficiency. By eliminating these barriers, countries are able to increase the flow of goods and services across borders, leading to lower prices for consumers and greater opportunities for producers. One of the key benefits of free trade agreements is that they promote open markets by encouraging competition and innovation. When countries are able to freely trade with one another, companies are forced to become more efficient in order to compete on a global scale. This can lead to lower prices for consumers, as companies strive to offer the best products at the most c...
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