Free Trade - Features of Free Trade

Features of Free Trade

Free trade implies the following features:

  • Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers)
  • Trade in services without taxes or other trade barriers
  • The absence of "trade-distorting" policies (such as taxes, subsidies, regulations, or laws) that give some firms, households, or factors of production an advantage over others
  • Free access to markets
  • Free access to market information
  • Inability of firms to distort markets through government-imposed monopoly or oligopoly power

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Famous quotes containing the words features of, features, free and/or trade:

    It is a tribute to the peculiar horror of contemporary life that it makes the worst features of earlier times—the stupefaction of the masses, the obsessed and driven lives of the bourgeoisie—seem attractive by comparison.
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