- Meaning of Trade policy:
Trade policy refers to the regulations and agreements that control imports and export to foreign countries.
Types of Trade policy:
- Free trade policy
- Policy of protection
- case for free trade policy or Advantages of free trade policy
- Maximisation of out put
- Benefits the consume's
- High factor incomes
- Meeting emergencies
- Promotes international co-operation
- Best policy for economic development
- Encourages invention
- Develops transport and communication
- Wide markets
- Prevents monopoles
- Equitable distribution of resources
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