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
The thumb. noun. The thumb is the short finger on your hand that is nearest your wrist. The short finger on your hand that is opposable to your other fingers is an example of a thumb. To thumb is to use the short finger of your hand to touch something or to turn the pages of a book. When you turn the pages of a book using the short finger on your hand, this is an example of a time when you thumb through the book.