Answer to Question #230658 in Macroeconomics for Dickson

Question

argue how free trade rather than protectionism can favour countries

Answer 1

Free trade is a favor to many countries, especially for consumers, since it reduces prices by eliminating tariffs and increasing competition among organization in different parts of the world. In principle, this will make goods and services cheaper. Contrarily, protectionism can result in destructive trade wars that increase costs and uncertainty as each side attempts to protect its own economy