Simone lives in a country in which the government does not impose quotas on what can be imported or on what businesses can produ

Question

Bogdan [553]

1 year ago

13

Simone lives in a country in which the government does not impose quotas on what can be imported or on what businesses can produ

ce and sell to another country. What type of situation does this describe?

Business

1 answer:

irina1246 [14] · Answer 1 · 2023-07-09T21:57:48+03:00

The type of situation that describe a situation where government does not impose quotas on what can be imported is known as free trade.

<h3>What is free trade?</h3>

Free trade is an agreement between two or more countries to remove trade barriers or restrictions . This enable member countries trade freely without any impediment to import and export of goods.

Countries come together to promote their goods and services by taking away any thing that could hinder import and export of goods among member nation. This bring about increased efficiencies.

Hence, the type of situation that describe a situation where government does not impose quotas on what can be imported is known as free trade.

Learn more about free trade here: brainly.com/question/3520350