Question

Discuss the advantages and disadvantages of Free Trade Agreements (FTA) on participating countries. Give explaination for each of the advantages/disadvantages you mentioned.

Answer 1

Advantages :

1. Increasing economic growth
2. Lower government spending
3. Better transfers of labor and technology
4. Increased efficiency
5. Lack of monopoly
6. Specialisation for nations
7. Reduced prices
8. Better variety and Differentiation

Disadvantages :

1. Increasing job outsourcing
2. Poor working conditions
3. Degradation of natural resources
4. Threat towards intellectual property
5. Reduced tax revenues.

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