The Static Welfare Effects Resulting from the Formulation of Customs

question 52

Multiple Choice

The static welfare effects resulting from the formulation of customs unions are measured by the extent to which it leads to ___________ and ____________.

• A)trade creation; trade diversion
• B)economies of scale; free trade
• C)dynamic effects; trade diversion
• D)dynamic effects; trade creation

Understand the significance of aligning company competitive strategy with supply chain strategy.

Differentiate between product development strategy and supply chain strategy.

Understand the components and functions within a supply chain.

Differentiate between the core elements of supply chain strategy and supplementary services.

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Definitions:

Complete Package

A product or deal that includes everything needed for a particular purpose or requirement, leaving nothing out.

Reasonable Basis

A standard which requires that claims, especially in law and finance, must have a foundation that is logically sound and justifiable.

Generalities

Statements or ideas that are broad and unspecific, lacking in detailed explanation or specificity.

Exaggerations

Statements that stretch the truth or overstate facts.