https://padlet.com/vee_patel/freetradegoodorbad 13 IB Ecoonomics en-us 2017-10-10 10:29:05 UTC 2023-02-18 10:28:28 UTC hello@padlet.com vee_patel https://padlet.com/vee_patel/freetradegoodorbad/wish/195515418 http://www.bbc.com/news/business-38209407

Is free trade good or bad? Write your own response on padlet.]]> 2017-10-10 10:32:31 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/195515418 https://padlet.com/vee_patel/freetradegoodorbad/wish/197084583 Free trade has its theoretical pros and cons. I think its subjective to each country, if they want to have free trade or not.
Example: Moving production to a developing nation where wages for unskilled labour are low. While it might be cheaper for the firm, it results in loss of jobs.]]> 2017-10-15 07:15:11 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/197084583 https://padlet.com/vee_patel/freetradegoodorbad/wish/197084629 Personally, from what I've seen and heard, protectionism has its pros and cons; it can create both  losers and winners. Examples include imposed tariffs in which the producers benefit regarding greater supply while consumers suffer due to the increase import price of the goods. ]]> 2017-10-15 07:15:58 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/197084629 https://padlet.com/vee_patel/freetradegoodorbad/wish/197084675 " The textbook analysis says that those losses add up to more than the total gains. "
I think that this is only true to a certain extent. Some economies have very competitive exports because of the availability of resources in their country. In this case, protectionism is not such a bad thing as these competitive economies would drive domestic economies out of the market without protectionism.]]> 2017-10-15 07:16:46 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/197084675 https://padlet.com/vee_patel/freetradegoodorbad/wish/197084711 Is free trade good or bad? Free trade will allow consumers to benefit most as they can enjoy the goods at lower price. However, it would lead to greater   gap in distribution of wealth, as countries with more profit would be able to decrease the price of their products, as they benefit from the economics of scales. Countries who haven't fully developed their products or still on early stage will struggle to keep up with countries that are fully developed and produce at much lower points.]]> 2017-10-15 07:17:15 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/197084711 https://padlet.com/vee_patel/freetradegoodorbad/wish/197084774 Free trade can also suppose negative consequences for local producers because international producers may have more competitive prices, which reduces the demand for local products. This will decrease economic growth and could suppose a negative balance of payments.]]> 2017-10-15 07:18:11 UTC https://padlet.com/vee_patel/freetradegoodorbad/wish/197084774