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Business & Marketing
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English (U.S.)
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Free Trade and Protectionism Business & Marketing Coursework
Coursework Instructions:
Watch the recorded lectures and the sync session. Discuss free trade and protectionism in a few paragraphs. Make sure you reflect learnings from this course in your essay. (no more than 250 words)
https://ourworldindata(dot)org/trade-and-globalization
https://www(dot)youtube(dot)com/watch?v=NI9TLDIPVcs
Coursework Sample Content Preview:
Free Trade and Protectionism
Student’s Name
Institution
Free Trade and Protectionism
Adam Smith was right when he introduced the concept of specialization and trade. He argued that the benefits from free trade between countries overly supersede that of protectionism (CrashCourse, 2016). There are some countries deficient in some basic and essential commodities inclusive of the natural resources, and the only way for these countries to remain afloat economically is to wholly depend on imports-cum-exports. Exporting expands the market reach, increases sales, and also leads to more profits. Alternatively, these countries can opt to trade products for other products deficient within their borders, hence maximizing efficiency (CrashCourse, 2016). There is no doubt free trade has had a progressive impact on globalization, and the positive correlation with countries’ GDP can attest to thi...
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