Examlex
Who was directly responsible for the downfall of LoD?
Free Trade
An economic policy that allows goods and services to be bought and sold across international borders with little to no government tariffs, quotas, subsidies, or prohibitions to inhibit exchange.
Consumer Surplus
The contrast between the potential payment by consumers for a product or service and their real expenditure.
Autarky
An economic system or policy of self-sufficiency where a country does not engage in international trade.
International Trade
International Trade encompasses the exchange of goods, services, and capital across international borders, benefiting countries through specialization and trade.
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