The Pattern of Imports and Exports That Occurs in the Absence

question 153

Short Answer

The pattern of imports and exports that occurs in the absence of trade barriers is called ________.

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Definitions:

Abstract Thoughts

The ability to think about objects, principles, and ideas that are not physically present.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, leading to massive changes in technology, society, and the global economy.

Postindustrial Society

A stage of society's development when the economy transitions from a manufacturing-based economy to a service-based economy, emphasizing the significance of information and technology.

Historical Context

The circumstances or background surrounding a particular event, period, or subject in time, which help to understand its meaning and implications.