Write an essay of at least 300 words, addressed to a general audience, where you make arguments about free trade and protection.
Your arguments should be based on the
a) the costs and benefits of free trade;
b) the costs and benefits of the various types of protection;
the costs and benefits of discriminating protection (i.e. participation in
Explanation & Answer
Attached. Please let me know if you have any questions or need revisions.
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Free trade areas experience exports and imports of products and services without limited
tariffs barriers, leading to benefits due to economy of scale, reduced prices for customers, and an
increase in exports. Moreover, such moves possess various costs, such as reduced tax revenues
and threats to intellectual property. Notably, different types of protection possess various merits
and demerits. On the same note, discriminating protection such as the formation ...