Opening up an economy by lowering tariffs and barriers is called:

Question

Accepted Answer

B. Trade liberalisation

1. Free trade removes barriers like tariffs.
2. Foreign goods then compete with local ones.
3. It can hurt developing economies if unequal.
_Source: syllabus Geography, Fundamentals of Human Geography, Chapter 9, International Trade._

Answer

Barter exchange system

Answer

Dumping of cheap goods

Answer

Trade protectionism

Opening up an economy by lowering tariffs and barriers is called:

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