Term the interchange of commodities across political frontiers without restriction such as tariffs, quotas, or foreign exchange controls ?
Correct answer: B. Free trade
- A. Open trade
- B. Free trade
- C. Open sky trade
- D. Easy trade
Explanation
Free trade is the exchange of goods and services across borders with minimal or no tariffs, quotas, or foreign-exchange restrictions. “Open trade” is less precise and is not the standard term tested here.
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