Economics
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Choose the appropriate word or phrase to complete the cloze passage.
| barriers to free trade | cheaper or better | lowers working conditions | increasing | trade-dependent | trade liberalisation | increases employment
Open markets or freer trade or _______________ are terms used to describe the policies that seek to have freer trade throughout the world. This means that there will be fewer restrictions on trade between countries. In effect, it means that any supplier of goods or services has the right to send those to another country, where they will be bought if they are _______________ than what is available locally.
Many people agree with this, and say that free trade increases exports, _______________, lowers costs, and will make Australia more competitive and successful in the world while _______________ our standard of living.
However, there are various ways in which trade is not free between countries. Some of these _______________ are easily seen, but some are hidden from obvious view.
Others disagree, and argue that free trade _______________, creates unemployment, weakens national culture, and decreases a nation's own sovereignty; it benefits some Australians, but others suffer and pay the cost.
Australia is a _______________ nation and the government as a result is a strong supporter of global trade liberalisation.
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