Explain the benefits and costs of a free trade agreement. (Site 1)

The theory of comparative advantage

Reducing tariff barriers leads to trade creation

Increased exports

Economies of scale

Increased competition

Explanation:

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Benefits of the free trade agreement support that allowing the citizens of a country to buy goods from anywhere in the world encourages peace, stability, and lower prices. This is because allowing citizens from around the world to buy and trade items creates a bond between our global civilization, connecting many people. However, opponents of this think otherwise. They say that free trade leaves some countries vulnerable in the event of a war or unstable international relations. They also believe that it is important to protect the workers and companies in a new industry from the competition and lower prices of established foreign companies. So basically, in the event of war occurring in a country associated with the free trade agreement, they would suffer more because they don't have much of the goods they sell of their own.

This was my own personal answer that I got correct on Edge

:)))

changes in factors like average income and preferences can cause an entire demand curve to shift right or left. this causes a higher or lower quantity to be demanded at a given price. demand curves relate the prices and quantities demanded assuming no other factors change. it is important for consumers to know this information, because it is crucial for them to know what they can afford and can't afford. i hope this .