The Primary Objective of the World Trade Organization Is to

question 86

Multiple Choice

The primary objective of the World Trade Organization is to

• A) maximize tariff revenue for developing-country governments.
• B) promote bilateral trade negotiations among nations.
• C) liberalize international trade among member countries.
• D) increase the protection of firms and workers against foreign competition.

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Definitions:

Monopolist

A monopolist is a single supplier in a market that has significant control over the price and supply of a particular good or service.

Market Entry

The act or strategy of bringing a new product or service to the market, facing various barriers to entry.

Dominant Strategy

In game theory, a strategy that is the best for a player regardless of the strategies chosen by other players.

Payoffs

The outcomes or returns from an investment or decision, often quantified in terms of profit or loss.