Economics – The Complete Course | Micro & Macro Made Simple with Mr. G - Free Trade vs Protectionism Explained | Tariffs, Quotas & Economic Impact!

In this lesson, we break down free trade and protectionism and explain how governments manage international trade. You will learn what free trade is, and how protectionist measures such as tariffs, quotas, and subsidies are used to protect domestic industries. This topic builds directly after globalisation  and helps you understand how countries balance openness with economic control. We also explore the advantages and disadvantages of both free trade and protectionism, helping you develop strong evaluation skills. 📚 In this video, you will learn: • What free trade is • What protectionism is • Tariffs, quotas, and subsidies explained • The advantages and disadvantages of each approach • The impact on businesses and the economy 🎯 Exam Insight: Top answers clearly explain both sides and include evaluation, such as when protectionism may be justified versus when free trade is more beneficial. 📈 Part of a complete macroeconomics playlist designed for deep understanding and real-world application