Which of the following statements is TRUE about the removalof trade barriers?

Question

Quizplus · Accepted Answer

When trade barriers are removed, it allows more competition and increased access to goods at lower prices for consumers. However, some suppliers who were protected by the trade barriers may lose market share or face increased competition, and therefore may be harmed. Overall, while it is likely that some parties will be both positively and negatively affected by the removal of trade barriers, in the long run it is generally considered beneficial for the global economy as a whole.

Which of the Following Statements Is TRUE About the Removalof