Written By: Free trade, also called laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports). A free-trade policy does not necessarily imply, however, that a country abandons all control and taxation of imports and exports. 1  The theoretical case for free trade is based on Adam Smithâs argument that the division of labour among countries leads to specialization, greater efficiency, and higher aggregate production.
Definition of wrist 1: the joint or the region of the joint between the human hand and the arm or a corresponding part on a lower animal 2: the part of a garment or glove covering the wrist
A modern wristwatch. A watch is a small timepiece intended to be carried or worn by a person. It is designed to keep working despite the motions caused by the person's activities. A wristwatch is designed to be worn on a wrist, attached by a watch strap or other type of bracelet. A pocket watch is designed for a person to carry in a pocket. Watches evolved in the 17th century from spring-powered clocks, which appeared as early as the 14th century.