Concepts for Kids

1. Anything that prevents or slows down free trade makes everyone poorer.

• natural disasters like earthquakes, storms, and floods
• wars
• laws that prevent people from trading
• rules that tell people what, when, or how they may trade
• governments that set prices
• taxes that increase prices

 
2.  Countries that have many laws and rules (called regulations) discouraging free trade are not as prosperous compared with countries that have fewer of them.

Related Topics

Poverty and Prosperity
Free Trade
Benefits of Trade
​Entrepreneurship

 Literature Connection

The Tuttle Twins and the Food Truck Fiasco
            by Connor Boyack
The Tuttle twins launch a political campaign to change laws limiting food truck businesses. The story defines profitable, regulations, protectionism, capital, and competition.

Rice From Heaven: The Secret Mission to Feed North Koreans
            by Tina Cho
In May, 2016, forty South Koreans inflated and launched 200 balloons that carried loads of rice into North Korea. This book tells the story from the perspective of a fictional girl who helped. The text and illustrations clearly show the differences between North and South Korea.