On yap island, in the pacific ocean, early inhabitants used large limestone disks, known as rai stones, as money. some of these disks weighed as much as a car! everyone agreed that the stones were valuable and the people utilized them in much the same way we use money today. the weight of the stones and the fact that a rai stone is difficult to split into smaller denominations would make rai stones unfit to act as money today because rai stones could not act as a

Medium of Exchange.

Explanation:

Medium of Exchange.

Here Rai stones could not be used as medium of exchange because the weight of the stones and the fact that a Rai stone is difficult to split into smaller denominations would make Rai stones unfit to act as money today.

Money is nothing a medium of exchange hence blank must be filled with the same term.

john locke and voltaire

trade regulation is a field of law, often bracketed with antitrust (as in the phrase “antitrust and trade regulation law”), including government regulation of unfair methods of competition and unfair or deceptive business acts or practices. antitrust law is often considered a subset of trade regulation law. franchise and distribution law, consumer protection law, and advertising law are sometimes considered parts of trade regulation law.

in general the theory of economics says that the more open to trade a country is the better   the result for the same country and the whole economies.

in real life countries impose taxes, quotas, etc which is not so good for the economies.

this kind of commercial war between the usa and china is slowing down the growth of the whole world so we can say that it is a draw back of trade regulations. and the free trade agreements are benefits of trade regulations.