The Two Basic Approaches That a Country Can Take as a Means

question 30

Multiple Choice

The two basic approaches that a country can take as a means to achieve free trade are the

• A)unilateral approach and the multilateral approach.
• B)short-run approach and the long-run approach.
• C)continental approach and the global approach.
• D)industry approach and the security approach.

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Definitions:

Restraint of Trade

Legal agreements or policies that restrict or limit competition or the freedom to conduct business in a certain market.

Enforceability

The ability of a legal document or agreement to be upheld or compelled in a court of law.

Mentally Incapacitated Persons

Individuals who are not able to make decisions for themselves due to mental disabilities or conditions, impacting their ability to understand or communicate effectively.

Voidable Contract

A valid contract that can be legally voided at the option of one of the parties.