ADVANTAGES OF FREE TRADE:,DISADVANTAGES OF FREE TRADE:

ADVANTAGES OF FREE TRADE:

• There are no tariffs and quotas among member countries.
• There is free movement of goods and services among member countries.
• There is free movement of people among member countries.
• Workers can be hired from any member country without any restrictions.
• There is free movement of money and capital.
• There is better relationship among member countries.

DISADVANTAGES OF FREE TRADE:

·         Home industries get affected.

• Infant industries get affected.
• Loss of revenue for the Government when foreign currency goes out.
• It sometimes causes unemployment.
• It causes imbalance of power among member countries.
• There is sometimes a drain of wealth.