Which of the Following Characteristics Do Merchandisers Have

question 51

Multiple Choice

Which of the following characteristics do merchandisers have?
i. They trade in physical products.
ii. They do not hold inventories.
iii. They purchase goods for resale.
iv. Their outputs have low customisation.

• A) All the given answers
• B) i, ii and iii
• C) i, iii and iv
• D) ii, iii and iv

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Definitions:

GATT

The General Agreement on Tariffs and Trade, an international treaty designed to reduce tariffs and other barriers to trade between member countries.

International Agreement

A formal accord between two or more countries that outlines specific commitments each nation agrees to fulfill, often related to trade, defense, or cultural exchanges.

Liberalization

The process of reducing restrictions on economies, typically by removing trade barriers and deregulating capital markets.

Quota

A government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.