An Agreement Where a Large Number of Developed Counties Permit

question 4

Multiple Choice

An agreement where a large number of developed counties permit duty-free imports of a selected list of products that originate from specific countries is known as _____.

• A) a custom duty
• B) an ad valorem agreement
• C) an export agreement
• D) the generalized system of preferences
• E) an import agreement

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Definitions:

Colonial Trade

A historical term referring to the trade between colonial powers and their colonies, often involving the exchange of goods such as spices, textiles, and other commodities for profit.

Dutch Merchants

Businesspeople from the Netherlands who were involved in trade and commerce, particularly during the period of Dutch exploration and colonization.

Anglo-Dutch Wars

A series of 17th and 18th-century conflicts between England (later Britain) and the Dutch Republic over trade and naval supremacy.

Dutch Shipping

Relates to the Netherlands' historically significant maritime sector, known for its advanced shipbuilding technology and extensive trade networks.