One of the More Important Aspects of LAIA That Differs

question 9

Multiple Choice

One of the more important aspects of LAIA that differs from LAFTA, its predecessor, is:

• A) the differential treatment of member countries according to their level of economic development.
• B) the inclusion of rules of origin.
• C) the exclusion of tariff barrier.
• D) provision of quotas for the member countries.
• E) introduction of a common currency for the member countries.

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Definitions:

Excavation

The process of removing soil, rock, or other materials from a site to form an open hole or cavity.

Purchase Discount

A reduction in price granted by a supplier to a buyer for early payment of an invoice.

Freight-In

The cost associated with transporting goods into a warehouse or to the buyer, often included in the inventory cost.

Installation

The act of setting up or assembling machinery, equipment, software, or hardware to make it ready for operation.