GATS Requires Its Member States to Ensure That Their Domestic

question 57

Multiple Choice

GATS requires its member states to ensure that their domestic regulations affecting trade in services are administered in a reasonable, objective, and impartial manner and as soon as the ________ adopts harmonizing guidelines in these areas, it will require them to bring their practices into compliance with those guidelines.

• A) Council for Trade-Related Aspects of Intellectual Property Rights
• B) Trade Negotiations Committee
• C) Council on Trade in Services
• D) Council for Trade in Goods

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Definitions:

Reduced Inventory

Reduced inventory involves minimizing the amount of goods or materials held in stock to lower costs, reduce waste, and increase efficiency in production and distribution processes.

JIT

Just-In-Time, an inventory management strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

TPS

Toyota Production System, a manufacturing methodology focused on reducing waste and improving efficiency and quality.

Lean Systems

Lean systems are management philosophies that focus on minimizing waste within manufacturing systems while simultaneously maximizing productivity.