Asked by ashlee clowers on May 21, 2024
Verified
The most favoured nation status allows a nation to choose one other nation to get special treatment regarding quotas and tariffs.
Most Favoured Nation Status
A status that gives a trading partner most favorable treatment for imports and exports.
Quotas
are set limits or targets that need to be achieved within a specified timeframe, commonly used in sales, production, and policy implementation.
- Comprehend the effects of tariffs, quotas, and free trade agreements on global commerce.
Verified Answer
AH
Ashlee HilmanMay 26, 2024
Final Answer :
True
Explanation :
The most favoured nation status allows a nation to choose one other nation to receive the same trade benefits as the "most favoured" nation, which includes special treatment regarding quotas and tariffs.
Learning Objectives
- Comprehend the effects of tariffs, quotas, and free trade agreements on global commerce.