Concepts Are Formed By

question 19

Multiple Choice

Concepts are formed by:

• A) finding consistent similarities among a set of facts and ignoring small differences.
• B) focusing on a key fact and ignoring other facts.
• C) using a standard definition, like those found in a dictionary.
• D) comparing and contrasting two facts.

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Definitions:

Direct Exporting

Direct exporting refers to the process by which a company sells its products directly to buyers in a foreign market without intermediaries.

North American Free Trade Agreement

An agreement among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.

NAFTA Member Nations

The countries that are part of the North American Free Trade Agreement, aimed at reducing trading costs, increasing business investment, and helping North America be more competitive in the global marketplace.

Trade Restrictions

Measures applied by governments to control the exchange of goods and services across its borders, including tariffs, quotas, and embargoes.