Difference between revisions of "Reciprocity"
From BiblePortal Wikipedia
| Line 3: | Line 3: | ||
== The Nuttall Encyclopedia <ref name="term_78923" /> == | == The Nuttall Encyclopedia <ref name="term_78923" /> == | ||
<p> | <p> A term used in economics to describe commercial treaties entered into by two countries, by which it is agreed that, while a strictly protective tariff is maintained as regards other countries, certain articles shall be allowed to pass between the two contracting countries free of or with only light duties; this is the cardinal principle of [[Fair]] Trade, and is so far opposed to Free Trade. </p> | ||
==References == | ==References == | ||
Latest revision as of 17:56, 15 October 2021
Webster's Dictionary [1]
(1): ( n.) Reciprocal advantages, obligations, or rights; reciprocation.
(2): ( n.) Mutual action and reaction.
The Nuttall Encyclopedia [2]
A term used in economics to describe commercial treaties entered into by two countries, by which it is agreed that, while a strictly protective tariff is maintained as regards other countries, certain articles shall be allowed to pass between the two contracting countries free of or with only light duties; this is the cardinal principle of Fair Trade, and is so far opposed to Free Trade.
