History, 13.12.2019 19:31 bananaslada

The simplest form of a trade agreement is a
agreement created between two countries.

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Answer from: jalonjonrs5991

The simplest form of a trade agreement is a -Direct- Agreement created between two countries.

Direct agreement refers to the type of agreement that conducted by sellers and buyers accompanied by a third party that act as regulator. This agreement is seen as simple because the transaction is fully controlled by both the sellers and the buyers while the third party exist only to ensure that both parties fulfill their obligation.

Answer from: bettymj3071

Answering the question, the simplest form of a trade agreement is a direct agreement created between two countries.

A direct agreement can be defined as a type of agreement that carried out between a buyer and a seller. In this type of agreement, there is also a third party in the picture that serves as a regulator

Further Explanation

The transactions that occurs in a direct agreement is solely controlled by the buyers and the sellers, and the third party's responsibility is to ensure that both sellers and buyers strictly adhere to the conditions of the transactions and this is the very reason why this type of agreement is regarded as the simplest.

However, a trade agreement refers to the outcome of negotiations between two or more nations.

In a trade agreement, the countries that are involved set out the conditions of the acceptance of exchange of products and services.

However, there are three types of a trade agreement and these include

Unilateral trade trade agreement

The advantages of a trade agreement

It increased the economy of the countries involvedIt reduces the spending of the governmentIt promotes foreign direct investment

Disadvantages of a trade agreement

It results in poor working conditionsIt lowers tax revenueIt could destroy native cultures

All the sovereign nations have the power to determine what comes in our out of their country.

LEARN MORE:

regional trade agreements regional trade agreement

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