What Is the Main Difference for Members of the World

question 46

Multiple Choice

What is the main difference for members of the World Trade Organization (WTO) who also are members of a free trade area (FTA) ?

• A)WTO members are provided lower tariffs than members of the FTA
• B)There are no nontariff barriers for WTO members, but there may be some for FTA members
• C)Within a free trade area, there are no tariffs at all, but there are some tariffs for WTO members
• D)Barriers may be low for FTA members, but they are even lower for WTO members

---

Definitions:

Buy-Class Situation

Refers to the classification of purchasing situations into categories based on the degree of effort and time invested, such as new buys, straight re-buys, and modified re-buys.

Buying Center Tendencies

Patterns or habitual behaviors of a buying center, which is a group of individuals within an organization that make decisions about significant purchases.

Minor Modification

Small adjustments or changes made to a product or service to enhance its appeal or functionality without overhauling its core attributes.

Buy Classes

Consist of three types of organizational buying situations: straight rebuy, new buy, and modified rebuy.