What is Free Trade? - Definition, Pros, Cons & Examples


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What are tariffs?

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1. When are tariffs not placed on goods and services?

2. What three countries participate in NAFTA?

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About This Quiz & Worksheet

You'll be assessed on elements of free trade such as tariffs, goods and services, NAFTA, and the benefits of such a system.

Quiz & Worksheet Goals

This practice test will ask you precisely about:

  • The definition of tariffs
  • Tariffs on goods and services
  • NAFTA's participants
  • Cons of NAFTA
  • Pros of free trade

Skills Practiced

  • Knowledge application - use your knowledge to answer questions about principles of free trade
  • Information recall - access the knowledge you've gained regarding properties of NAFTA
  • Reading comprehension - ensure that you draw the most important information from the related free trade lesson

Additional Learning

Learn further information about this subject with the lesson called What is Free Trade? - Definition, Pros, Cons & Examples. This lesson is going to cover concepts like:

  • Advantages and disadvantages of free trade
  • What NAFTA is/does
  • Elements of free trade