Managed trade aims to replace global market or economic forces with government actions to determine trade outcomes.

Question

Quizplus · Accepted Answer

Managed trade is a concept that involves government intervention in determining the outcome of trade between countries. It involves arrangements that are aimed at replacing market forces with government action, with the aim of ensuring that the outcomes of trade are more favorable to particular industries, regions or nations. This concept is usually seen as a departure from the free market model of trade, as it involves governments actively shaping trade flows and economic outcomes.

Managed Trade Aims to Replace Global Market or Economic Forces