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The simplest form of a trade agreement is a agreement created between two countries.
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 regulatorFurther ExplanationThe 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 includeUnilateral trade agreementBilateralMultilateral trade agreementThe advantages of a trade agreementIt increased the economy of the countries involvedIt reduces the spending of the governmentIt promotes foreign direct investmentDisadvantages of a trade agreementIt results in poor working conditionsIt lowers tax revenueIt could destroy native culturesAll the sovereign nations have the power to determine what comes in our out of their country. LEARN MORE:regional trade agreements tophomeworkanswers.com.com/question/4558120regional trade agreement tophomeworkanswers.com.com/question/7019298KEYWORDS:trade agreementnationssimplest formdirect agreementtaxbuyerssellers
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