Which of the Following Statements About the World Trade Organization

question 106

Multiple Choice

Which of the following statements about the World Trade Organization (WTO) is true?

• A)The WTO is a branch of the U.S.government.
• B)Only countries that belong to established economic communities are granted membership in the WTO.
• C)Only developed nations are granted membership to the WTO.
• D)The WTO's main function is to help least developed countries grow their economies.
• E)The WTO is the only international organization that deals with the global rules of trade between nations.

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Definitions:

Differentiation

Refers to the process of distinguishing a product, service, or brand from competitors in ways that appeal to the customer, creating a perceived value over alternatives.

Focused Differentiation

A business strategy where a company targets a specific market niche, offering unique products or services that stand out from competitors.

Subscription-Based

A business model where customers pay a recurring price at regular intervals to access a product or service, rather than a one-time purchase.

Internet Business Model

A strategy outlining how an organization will create value and make money through the use of the internet.