Word: Free Trade
Definition:Free trade is a noun that means the exchange of goods and services between countries without government rules or restrictions. In simple terms, it means countries can buy and sell things to each other without extra taxes or limits set by their governments.
Usage Instructions: - Use "free trade" when talking about international commerce and economics. - It is often discussed in the context of trade agreements between countries.
Example: - "The new agreement will promote free trade between the two countries, allowing businesses to export and import goods without extra fees."
Advanced Usage: - Free trade is often contrasted with protectionism, which is when a country uses tariffs and quotas to limit imports to protect local businesses. - Some discussions around free trade include debates about its impact on jobs, the economy, and the environment.
Word Variants: - "Free trader" (noun): A person or business that supports or engages in free trade. - "Free trade agreement" (noun): A treaty between two or more countries to reduce or eliminate trade barriers.
Different Meanings: - In a broader sense, "free" can mean without cost, but in "free trade," it specifically refers to the absence of government restrictions.
Synonyms: - Open trade - Unrestricted trade
Idioms and Phrasal Verbs: - There aren’t specific idioms or phrasal verbs that use "free trade," but you might encounter phrases like "open market," which shares a similar meaning regarding trade without restrictions.
Conclusion:Understanding "free trade" is important for discussions about global economics and how countries interact with each other.