This document discusses international trade and the effects of free trade versus trade restrictions. It begins by examining the determinants of trade, explaining that a country will export goods where it has a comparative advantage over other countries as indicated by a domestic price below the world price. For goods where a country lacks comparative advantage and the domestic price is above world levels, the country will import. Free trade increases overall welfare by allowing for gains from trade, though some domestic producers may lose. The document then analyzes the effects of trade restrictions like tariffs and quotas, finding they reduce imports, benefit domestic producers but harm consumers, and create deadweight losses that lower total welfare.
Trade is voluntary and non-fraudulent, exchange of goods and services among people and countries.
When a trade occurs between nations or cross-border it is called International Trade.
The Barrier is any hurdle which creates resistance. Or a structure or object that blocks free movement. simply it is Hinderance in the flow of something.
A trade barrier is defined as “any hurdle, obstacle or roadblock that hampers the smooth flow of goods, services, and payments from one destination to another”.
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