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Define, critically compare (similarities, differences), and indicate the principles underlying: (a) free trade, (b) protected trade, (c) fair trade, and (d) direct trade. Exemplify your points drawing from course material. Based on course material, which type of trade or combination of trade arrangements characterize/s the global economy? Explain thoroughly, and support your argument with examples. Identify and discuss the various ways in which the terms of trade are considered subject to change (entrepreneurial strategies; the changing structure for trade; ethical, proactive volunteer as well as commercial efforts); use plenty of examples from course material to support your points. What is your informed view of the prospects fir improved terms of trade in the global economy? Explain
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