Complete the Following Using the Terms Listed

question 1

Multiple Choice

Complete the following using the terms listed.
-_____monitors agreements among General Agreement on Tariffs and Trade (GATT) member nations,mediates disputes,and works to reduce trade barriers throughout the world.

• A)offshoring
• B)balance of trade
• C)joint venture
• D)Dumping
• E)Imports
• F)tariff
• G)International Monetary Fund
• H)World Trade Organization
• I)free trade area
• J)Devaluation
• K)exchange rate
• L)absolute advantage
• M)global business strategy
• N)Quota
• O)multidomestic strategy
• P)balance of payments
• Q)comparative advantage

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Definitions:

Profit Or Loss

The financial result of a business's operations, calculated as the difference between revenue and expenses.

Maximizing Profits

The process of making the most financial gain possible from business operations, through various strategies such as cost reduction, revenue increase, or efficiency improvements.

Profit Maximizes

Refers to strategies or actions companies undertake to increase their profits to the highest possible level.

Quantity

The amount or number of a product or service available for purchase or sale.