An Important Function of the World Trade Organization Is to Settle

question 11

True/False

An important function of the World Trade Organization is to settle trade disputes between two countries.

---

Definitions:

Distribution of Income

The way in which a nation’s total earnings are divided among its population, or the way in which wealth is shared amongst individuals.

Evade

To avoid or escape from something or someone, often by using cunning or deceit.

Perfectly Elastic

A situation in economics where the quantity demanded or supplied responds infinitely to changes in price.

Excise Tax

A tax charged on specific goods and services, such as tobacco and alcohol, often implemented to discourage their use or raise government revenue.