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Hamza Baban
on Nov 17, 2024

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A multilateral approach to free trade has greater potential to increase the gains from trade than a unilateral approach, because the multilateral approach can reduce trade restrictions abroad as well as at home.

Multilateral Approach

A strategy involving multiple countries working together on a particular issue or project.

Unilateral Approach

A strategy or policy decision made by one state, party, or organization independently from others.

Gains From Trade

The net benefits that entities receive from voluntary trading with each other, often leading to an improvement in overall welfare.

  • Understand the role and impact of international trade organizations and agreements.
  • Examine the possible improvements from liberal versus protective trade.
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Alexis AlexanderNov 20, 2024
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