GATT Envisages a Process of Tariff Bargaining,and This Is Accomplished

question 8

True/False

GATT envisages a process of tariff bargaining,and this is accomplished through a hit-and-miss process of tariff reductions and increases called "rounds."

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Definitions:

Inequity

A state of unfairness or injustice where there is an imbalance or disproportionality in the distribution of resources or opportunities among individuals or groups.

Restoring Equity

The process of ensuring fairness and balance in the distribution of resources and opportunities.

Adams's Theory

Relates to the equity theory of motivation, suggesting that employees are motivated to maintain equity between inputs and outcomes in their job and workplace.

Expectancy Theory

A theory of motivation suggesting that individuals are motivated to act based on the expected outcome of their actions and the value they place on those outcomes.