Which of the Following Is a Multilateral Trading System Formed

question 132

Multiple Choice

Which of the following is a multilateral trading system formed in 1995?

• A)WTO
• B)GATT
• C)IMF
• D)ASEAN

Recognize the conditions under which an agency relationship does not terminate.

Differentiate between employees, gratuitous agents, and independent contractors within the context of agency law.

Appreciate the significance of agency law for business operations and contracts.

Distinguish the concept of authority and its different forms in an agency relationship.

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Definitions:

Shutdown Point

The level of operations at which a company does not benefit from continuing operations or producing any output due to high variable costs.

Output

The total amount of goods or services produced by an economic system or entity within a given period.

Peak Efficiency

Refers to the highest level of operational productivity or performance a company or economy can achieve under ideal conditions.

ATC Curve

Average Total Cost Curve, a graphical representation in economics that shows the average total cost of producing different quantities of a good or service.