The _____ Is the Most Ambitious Global Trade Agreement Ever

question 12

Multiple Choice

The _____ is the most ambitious global trade agreement ever negotiated; the agreement reduces tariffs by one-third worldwide.

• A) Uruguay Round
• B) Mercosur
• C) GATT
• D) NAFTA
• E) Maastricht Treaty

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Definitions:

Single Stage Control

A control mechanism in manufacturing or production that is applied at a single point or stage in the production process.

Supply Chain

The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of source materials from the supplier to the manufacturer, and eventually to the end user.

Proctor and Gamble

Procter & Gamble is a multinational consumer goods corporation specializing in a wide range of personal health/consumer health, and personal care and hygiene products; these products are organized into several segments, including Beauty, Grooming, Health Care, Fabric & Home Care, and Baby, Feminine, & Family Care.

Virtual Company

A business that operates online and does not have a traditional brick-and-mortar physical presence, often relying on digital networks for operations.