The initial approach to measuring individual differences in sensation was the use of absolute thresholds. In the 21st century, researchers use a more sophisticated approach that takes an observer's response bias into account. This approach is termed theory.

Signal Detection Theory

Explanation:

According to this theory, there are a number of factors that determine how a system will detect a signal and the point at which the threshold level will be pinpointed. E.g. in humans factors such as fatigue, experience, expectations can affect the applied threshold.

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.