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Explain How the General Agreement on Tariffs and Trade (GATT)and

question 147

Essay

Explain how the General Agreement on Tariffs and Trade (GATT)and the World Trade Organization encourage global trade.


Definitions:

Markdown

A reduction from the original or retail price of a good or service to increase its attractiveness to buyers.

Operating Expenses

Expenses related to the routine functioning of a company, not including the expenses of products sold.

Operating Profit

Profit earned from a firm's core business operations, excluding deductions of interest and tax.

Potted Poinsettias

A common household plant, particularly popular during the holiday season, characterized by its red and green foliage.

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