_____________ Occurs When Lower-Cost External Suppliers Are Replaced by Higher-Cost

question 77

Multiple Choice

_____________ occurs when lower-cost external suppliers are replaced by higher-cost suppliers within the free trade area.

• A) Trade diversion
• B) Trade qualification
• C) Trade synergy
• D) Trade creation
• E) Trade diversification

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Definitions:

Africa Slave Trade

The transatlantic slave trade involved the transportation of enslaved African people, mainly to the Americas, from the 16th to the 19th century.

Religious Reformation

A movement in the 16th century that aimed at reforming the beliefs and practices of the Roman Catholic Church, leading to the creation of Protestant churches.

North America

A continent located in the Northern Hemisphere and mostly in the Western Hemisphere, comprising countries such as the United States, Canada, and Mexico.

Papal Mandates

Orders or commands issued by the Pope, the head of the Roman Catholic Church, concerning religious doctrine, practice, or governance.