The General Agreement on Tariffs and Trade Is an International

question 99

Multiple Choice

The General Agreement on Tariffs and Trade is an international agreement

• A) that outlaws all tariffs but permits quotas.
• B) to encourage world trade by lowering tariffs and other trade barriers.
• C) to encourage world trade by lending resources to developing countries.
• D) between the United States and Japan that has never been ratified, resulting in several trade wars with Japan.

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Definitions:

Consumer

An individual who purchases goods and services for personal use.

Benefit Selling

A sales technique focused on communicating the advantages and positive outcomes a customer will gain from purchasing a product or service.

FAB Selling

A sales strategy that highlights Features, Advantages, and Benefits of a product or service to persuade potential buyers.

Stimulus-Response

A concept in behaviorism that describes an automatic reaction to a specific stimulus.