Trading

Trading is buying and selling resources, services, or securities. Free trade refers to international exchange of goods not restrained by government interference or regulation, such as special duties.

"A free-trade policy does not necessarily imply that the government abandons all control and taxation of imports and exports, but rather that it refrains from actions specifically designed to hinder international trade, such as tariff barriers, currency restrictions, and import quotas. The theoretical case for free trade is based on Adam Smith's argument that the division of labour among countries leads to specialization, greater efficiency, and higher aggregate production. The way to foster such a division of labour, Smith believed, is to allow nations to make and sell whatever products can compete successfully in an international market". Britannica Concise Encyclopedia.

See also[edit]

• Credit
• Free Enterprise
• Fair trade
• Trade surplus

External links[edit]

• Free Trade and Globalization