What term is used to describe individuals who advocate for fewer or no trade restrictions?

Prepare for the OSAT Business Education Test. Utilize flashcards and multiple choice questions, each question includes hints and explanations. Ensure success on your exam!

The term used to describe individuals who advocate for fewer or no trade restrictions is "free traders." Free traders support the idea of eliminating tariffs, quotas, and other barriers to international trade, believing that this promotes competition, efficiency, and consumer choice. They argue that allowing goods and services to flow freely across borders can lead to greater economic growth and prosperity for all participating countries. This viewpoint is grounded in the belief that free markets maximize resources and enable countries to specialize in producing what they are most efficient at, ultimately benefiting consumers through lower prices and increased variety.

In the context of trade policy, free traders often clamor for free trade agreements and policies that encourage economic integration rather than protectionist measures that can isolate economies from the benefits of global trade.

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