Which of the Following Statements About the World Trade Organization

question 82

Multiple Choice

Which of the following statements about the World Trade Organization (WTO) is most accurate?

• A)The World Trade Organization was formed in 2008 to response to the global recession.
• B)There are 160 WTO member countries, including the United States, which account for more than 90 percent of world trade.
• C)The WTO sets rules governing trade between member and nonmember countries of the world.
• D)The WTO uses panels of trade experts who can issue nonbinding recommendations.
• E)The WTO was formed by the United Nations.

---

Definitions:

Total Cost of Ownership

The comprehensive assessment of the complete cost of acquisition and operation of a product or system over its useful life.

Position of Strength

A favorable condition or situation that gives an individual or organization an advantage over others in negotiations or competitions.

Life Cycle Costing (LCC)

An approach used to assess the total cost of ownership, considering all costs associated from acquisition through disposal of an asset.

Capital Acquisitions

The process of procuring assets or capital goods that contribute to an organization's productive capacity, often involving significant investment.