Which of the Following Is Not an Advantage of a Multilateral

question 114

Multiple Choice

Which of the following is not an advantage of a multilateral approach to free trade over a unilateral approach?

• A)A multilateral approach can reduce trade restrictions abroad as well as at home.
• B)A multilateral approach has the potential to result in freer trade.
• C)A multilateral approach requires the agreement of two or more nations.
• D)A multilateral approach may have political advantages.

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Definitions:

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, including high startup costs, legal restrictions, and strong brand identity.

Research and Development

Activities undertaken by companies or organizations to innovate and introduce new products or processes.

Revenue

The total amount of money generated from the sale of goods or services, before deducting any expenses.

Total Cost

The complete cost of production that includes both fixed and variable expenses incurred to produce a good or service.