Reducing protectionism allows greater gains from free trade.
Less protectionism leads to greater specialization and therefore more output for the entire world.

Question

Quizplus · Accepted Answer

According to economic theory, reducing protectionism leads to greater gains from free trade. When countries specialize in producing goods in which they have a comparative advantage, they can produce more efficiently and at a lower cost, which leads to increased output and higher welfare for all countries involved in trade. Therefore, less protectionism allows for greater specialization and more output for the whole world.

Reducing Protectionism Allows Greater Gains from Free Trade