An Institution That Sets Rules Governing Trade Between Its Members

question 18

Multiple Choice

An institution that sets rules governing trade between its members through a panel of trade experts who decide on trade disputes between members and issue binding decisions is referred to as the

• A) League of Nations (LoN).
• B) World Trade Organization (WTO).
• C) Association for Commerce Equity (ACE).
• D) United Nations Board of Trade (UNBT).
• E) Global Better Business Bureau (BBB-G).

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Definitions:

Operating Power

The power required for a device or system to perform its intended functions, critical for the continuous operation of industrial equipment.

Modular PLC

A type of Programmable Logic Controller that offers flexibility through interchangeable modules for various input/output, processing, and communication functions.

I/O Modules

Units in a PLC or computer system that provide interfaces for connecting input and output devices to the central processing unit.

Customized

Specially made or modified according to the user's specifications.