Asked by Abigail Kooiker on May 10, 2024
Verified
Statement I: The WTO regulates world trade.
Statement II: The basis for international trade is that all nations stand to gain through specialization and exchange with other nations.
A) Statement I is true and statement II is false.
B) Statement II is true and statement I is false.
C) Both statements are true.
D) Both statements are false.
WTO
The World Trade Organization (WTO) is an international organization that regulates international trade between nations.
International Trade
The exchange of goods, services, and capital between countries or territories, enhancing global economic growth, extending markets, and driving competition.
Specialization
A strategy where individuals or entities focus on a narrow area of expertise to increase efficiency and productivity.
- Comprehend the influence and historical development of GATT and the WTO in the context of global commerce.
- Acknowledge the social and economic concerns raised by globalization, including environmental, labor, and human rights issues.
Verified Answer
Learning Objectives
- Comprehend the influence and historical development of GATT and the WTO in the context of global commerce.
- Acknowledge the social and economic concerns raised by globalization, including environmental, labor, and human rights issues.
Related questions
Which of the Following Were Prominent Among the Protesters at ...
The World Trade Organization Was Established as a Successor to ...
The General Agreement on Tariffs and Trade (GATT)was Established In ...
Defend or Refute the Following Argument-Free Trade Is More Advantageous ...
Which of the Following Statements Is True of the General ...