Ablank is an earlier event or action that is regarded as an example or guide to be considered similar cases or circumstances

In legal terms, a precedent is an event or legal decision that other judges follow when similar cases are presented in the court room.

Judges use these prior cases to be the baseline of their rulings in current cases. If the precedent hasn't been overturned by a higher court or more other more relatable, recent decision, then the precedent is legally binding and judges should follow and apply the prior ruling to their own case.

For example, there were four court rulings (1938-1950) that laid the foundation for ruling in favor of school desegregation before Brown vs. The Board of Education in 1952. These rulings helped this case go all the way to the Supreme Court, who ruled that "separate but equal" in schools or anywhere based on race denied people equal protection under the Fourteenth Amendment, as well as their right to due process, under the Fifth Amendment.

answer; i believe that the correct answer is (scientific approach)

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.