Marketing and Management Solution

Arguments against Free Trade: 1) Dependency: if increase free trade in worldwide one country will export and another country become very much dependent to the foreign countries. 2) Variety of Production: lack of production specialization and variety of production, a country has to produce according to specialization. 3) Materialism: import some unusual and luxury products and create materialism in the society. 4) Economic crisis: Economic crisis will increase when free trade is possible , a country’s economic crisis and social unrest can spread into other countries. 5)  Imbalance economic growth: For industrial and agro based economy, there is no chance to be an industrialized economy. It create the negative impact of economy. 6) Imperialism: there is a chance of country or territory occupied and controlled by foreign settlers. 7) Business gains: developed and large countries are always try to be benefited and keep competitive advantage than...

Free Trade: Free trade is that which is free of various negative barrier of business not free of charge. It refers to the trade that is free from all artificial barriers to trade like tariffs, quantitative restrictions, exchange control etc. Economist Adam Smith was the blind supporter of free trade. Arguments for Free Trade: a) Increase total production:  Utilization of factors of production and product specialization b). Increase in consumption:  Marketers arrange various types of product from all over the world. c) Reduce monopoly: the condition of free trade is perfect competition, so it reduce monopoly.  d) Seller’s benefit:  Seller can sell their additional products at the highest possible price. e) Price balance:  Due to the intensive competition, producers cannot charge the unreasonable price. f) Customer’s benefit:  Consumer can collect their expected product at the lowest possible cost. g) Economic develo...