_____ Occurs When Higher-Cost External Producers Are Replaced by Lower-Cost

question 91

Multiple Choice

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

• A) Trade creation
• B) A customs union
• C) Trade diversion
• D) A common market

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Definitions:

Persuasive Technique

Strategies used to convince or influence others to adopt a certain perspective, belief, or to undertake an action.

Receiver's Perception

The way in which the intended audience interprets or understands a message.

Preventable Crisis

A critical situation that can be avoided through the implementation of effective planning and risk management strategies.

Organizational Misdeeds

Actions or behaviors within a company that are unethical, illegal, or otherwise harm the organization's stakeholders.