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Essay / Research Paper Abstract
This 4 page paper looks at the arguments for free trade as a tool to help developing countries focusing ion the economic benefits and the way this will impact on the quality of life. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEfreegood.rtf
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Unformatted sample text from the term paper:
on a fair basis. In many instances trade barriers, such as trade tariffs and quotas or regulation making trade difficult for external firms are put into place in order to
protect a home nations industries. In many instances it is argued that they need protection due to the ability of firms in other countries being able to offer services and
goods that can be produced at a lower cost. Comparative advantage is a key element that many developing nations have the potential to leverage in order to increase the revenue
into the country. If a firm is able to compete in the global arena, those with lower costs have an advantage. This will help to drive both economic and industrial
development; the revenue created by international trade facilitated by the free trade principles is an increase in the level of revenue that is entering the country. This will provide jobs
for the potential employees; this is particularly important in countries where there is high unemployment. Therefore, there is a direct benefit for the employees who see an increase in their
own level of household income. This increases their spending power, and with many developing countries seeing a high level of poverty this is a short term immediate impact. Increase
level of personal income results in * Less poverty and the conditions that accompany poverty * The ability to afford more food * Potential to pay for healthcare *
Potential to pay for education * Buying goods from the local traders and increasing aggregate demand * Paying tax increasing the government revenues This has a broader impact
as a result of the multiplier effect. * Theory developed by Keynes (Nellis and Parker, 2006) * In this it is the basic premise that as demand increase the
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