______________ Occur(s)when Lower-Cost Imports from Outside the Union Are Replaced

question 36

Multiple Choice

______________ occur(s) when lower-cost imports from outside the union are replaced by higher-cost imports from another union member.

• A)Trade creation
• B)Trade diversion
• C)Economies of scale
• D)Increasing opportunity costs

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Definitions:

Organizational Performance

The extent to which an organization achieves its goals and meets the expectations of its stakeholders.

Top Management

The highest level of administrative and executive officers who direct and control an organization or company.

Levels of Intelligence

Levels of intelligence refer to the differing capacities of individuals to understand complex ideas, adapt effectively to the environment, learn from experience, engage in various forms of reasoning, and overcome obstacles through thought.

Prototypical Characteristics

Attributes or qualities that are representative of a particular category or class, serving as a typical example or standard.