_____ is a philosophy in which nations promote trade by easing restrictions,including both tariff and non-tariff barriers.
A) Foreign direct investment
B) Trade liberalization
C) Monopoly
D) Oligopoly

Question

Quizplus · Accepted Answer

Trade liberalization is a philosophy that aims to promote trade by removing or reducing restrictions such as tariffs and non-tariff barriers such as quotas, regulations, and licensing requirements. This approach is supported by the belief that free trade will ultimately benefit all members of the global community by increasing competition, reducing costs, and boosting economic growth.

_____ Is a Philosophy in Which Nations Promote Trade by Easing