The Shifting of Trade Away from the Low-Cost Producer Toward

question 236

Multiple Choice

The shifting of trade away from the low-cost producer toward a higher-cost producer because of a reduction in trade barriers with the country of the higher-cost producer is called

• A)the Uruguay Round.
• B)multilateral trade.
• C)trade creation.
• D)trade diversion.
• E)multilateral negotiations.

---

Definitions:

Credentials

Qualifications, achievements, personal qualities, or aspects of a person's background, typically used to indicate their suitability for something.

Occupation

A person's chosen or main vocation, job, or employment, often tied to their identity, skills, and economic livelihood.

Latent Function

A term in sociology that refers to the unrecognized or unintended consequences of any social process.

Youth Culture

The way youngsters live, and the norms, values, and practices they share, distinct from adult society and often characterized by music, fashion, language, etc.