All of the Following Are Characteristic of the Global Economy

question 20

Multiple Choice

All of the following are characteristic of the global economy EXCEPT

• A)the increasing importance of developing countries as sources of revenue growth.
• B)the free movement of goods, services, people, skills, and ideas across geographic borders.
• C)the increased use of tariffs to protect industries.
• D)higher levels of opportunities and challenges.

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Definitions:

Implied-in-Law Condition

A requirement understood within legal agreements or contracts, not explicitly stated but legally binding.

Concurrent Conditions

Circumstances or events that occur at the same time or under the same conditions, often in legal or contract terms.

Mutual Duties

Obligations or responsibilities that are shared reciprocally between parties in a contract or agreement.

Performance

The execution or accomplishment of a task, contract, or duty as required or agreed.