When a Country Takes a Multilateral Approach to Free Trade,it

question 16

Multiple Choice

When a country takes a multilateral approach to free trade,it

• A)removes trade restrictions on its own.
• B)reduces its trade restrictions while other countries do the same.
• C)does not remove trade restrictions no matter what other countries do.
• D)is willing to trade with multiple countries at once.

---

Definitions:

Lower Prices

A strategy or condition where goods or services are offered for sale at reduced costs.

Bargaining Power of Suppliers

The ability of suppliers to influence the terms and conditions of the materials and goods they supply, affecting the buying company's costs and quality of inputs.

Degree of Rivalry

The intensity of competition among firms within the same industry or market.

Bargaining Power of Buyers

The ability of buyers to influence the price and terms of purchase due to their leverage over sellers.