A Key Component of the World Trade Organization That Was

question 128

Short Answer

A key component of the World Trade Organization that was carried over from the General Agreement on Tariffs and Trade (GATT) is the principle of non-discrimination called ________.

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Definitions:

Natural Resource

Materials or substances occurring in nature which can be exploited for economic gain, like minerals, forests, water, and fertile land.

Asset Disposal

The process of selling, donating, scrapping, or otherwise getting rid of an asset that a business no longer intends to use.

Gain

An increase in equity from incidental transactions and other events affecting the entity during a period, except those that result from revenues or investments by owners.

Loss

Refers to when a company's expenditures exceed its revenues during a specific period of time, resulting in a negative profit.