One potential negative consequence associated with free trade is the loss of domestic jobs. When countries engage in free trade, the domestic industries may struggle to compete with cheaper imports from other countries. This can lead to companies shutting down and laying off workers in sectors that are unable to keep up with international competition. As a result, individuals may face unemployment or difficulty finding new job opportunities, leading to economic and social hardships in certain regions. Additionally, the loss of jobs may also impact the overall economy of a country, potentially causing income inequality and social unrest.
Economics Basics Unit Test
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