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The rate determining step must be the first step of a reaction mechanism in all cases.
Free-Trade Policy
A policy approach that encourages international trade by minimizing tariffs, duties, and other barriers to import and export.
World Price
The international market price of a good or service, determined by global supply and demand, which influences domestic prices and competition.
International Trade
The exchange of goods, services, and capital across international borders or territories, driven by economic motives like gaining access to new markets or acquiring resources.
Unilateral Approach
A strategy or action taken by a single nation or entity independently, without coordination with others.
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