Which of the Following Will Support the Claim That the Development

question 40

Multiple Choice

Which of the following will support the claim that the development of the GATT, WTO, and various trade blocs have been successful in promoting international trade?

• A) Trade blocs have resulted in a lot of trade diversion from low-cost suppliers.
• B) World exports, as a proportion of world GDP, have been growing rapidly over the last few
• C) Tariffs are an important source of revenue for the governments of many countries.
• D) When one country introduces trade barriers such as import tariffs, trading partners often

Understand the concept and importance of profit in entrepreneurship.

Grasp the distinction between economic and accounting profits.

Recognize the structure of income distribution in capitalist economies, including the shares for labor and capitalists.

Identify different sources of business risk and distinguish between insurable and uninsurable risks.

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Definitions:

Behaving Morally

Behaving Morally involves actions and decisions that adhere to ethical principles and societal norms of right and wrong.

Savant Syndrome

An uncommon disorder characterized by individuals with major cognitive impairments displaying skills greatly surpassing the norm.

Autism Spectrum

A range of neurodevelopmental conditions characterized by challenges with social skills, repetitive behaviors, and communication, with varying degrees of severity.

Creative Intelligence

A facet of intelligence involving the ability to deal with new and different concepts and to come up with innovative solutions to problems.