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Frederic Bastiat
Frederic Bastiat was a French economist and writer known for his advocacy of free markets and critique of protectionism, best remembered for his works such as "The Law" and "Economic Sophisms."
Standard of Living
The level of wealth, comfort, material goods, and necessities available to a person, group, or society.
Lower Cost
Refers to a reduction in the expenses incurred in the production of goods or services, improving profitability and competitive advantage.
Trade Barriers
Measures implemented by countries to restrict international trade, including tariffs, quotas, and non-tariff barriers.
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