Asked by Zy'Leecia O'Briant on May 26, 2024
Verified
One of the advantages to free trade is that the benefits of trade flow are shared equally between labor and management.
Free Trade
An economic policy allowing goods and services to be traded across international borders with little to no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.
Labor
The body of workers in an economy or within a specific sector or industry, often represented collectively in discussions on wages, conditions, and rights.
Management
The process of dealing with or controlling things or people, especially in a professional setting; involves planning, organizing, leading, and controlling organizational resources.
- Evaluate the relationship between globalization, free trade, and the division of trade benefits.
Verified Answer
SK
Sumeet KumarMay 27, 2024
Final Answer :
False
Explanation :
Free trade may lead to overall economic growth and benefits, but the distribution of those benefits is not necessarily equal. The benefits may be concentrated in certain sectors or among certain groups, leading to income inequality between labor and management, as well as between countries.
Learning Objectives
- Evaluate the relationship between globalization, free trade, and the division of trade benefits.