beigedeer375Lv1
16 Dec 2021
Problem 41
Page 491
Section: CRITICAL THINKING QUESTIONS
Chapter 20: Globalization and Protectionism
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16 Dec 2021
Introduction
A developing country—also called a less developed country or emerging market—has a lower gross domestic product (GDP) than developed countries, with a less mature and sophisticated economy. A poor agricultural country that is seeking to become more advanced economically and socially.
A free trade policy is one in which imports and exports are not restricted. It could also be defined as the application of the free market concept to international trade.
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