Which Term Describes the Principle Under Which Nations That Negotiate

question 27

Multiple Choice

Which term describes the principle under which nations that negotiate tariff reduction offer the same low tariff to all nations that they offer to the nation that pays the lowest tariff?

• A) most-favored-nation principle
• B) trade adjustment principle
• C) economies of scale principle
• D) opportunity cost principle

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Definitions:

Physical Goods

Tangible products that can be physically touched and owned, such as electronics, clothing, and food.

Marketing Term

A word or phrase used in the field of marketing to describe concepts, strategies, or terminologies specific to the discipline.

New-product Development

The complete process of bringing a new product to market, from the initial idea to market research, design, and finally, launch.

Apple Newton

An early personal digital assistant developed by Apple Inc., which was one of the first products to attempt to recognize handwriting.