The Basic Objective of the Association of Southeast Asian Nations

question 25

True/False

The basic objective of the Association of Southeast Asian Nations is to foster freer trade among member countries and to achieve cooperation in their industrial policies.

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Definitions:

Efficient Allocation

The process of distributing resources in a way that maximizes the net benefit received from their use.

Monopoly Power

The ability of a company or group to control the market for its product or service, thus limiting competition.

Local Community

A group of people living in the same area or having a particular characteristic in common, often sharing local governance, resources, and interests.

Government-operated Firm

is a business entity controlled or owned by the government to provide goods or services to the public.