BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Free-trade zones
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Free-trade agreements
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non-tariff alliances
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Common markets
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Detailed explanation-1: -Like a free trade zone, a foreign-trade zone allows goods to be repackaged, modified, manipulated, and relabeled. However, unlike a free trade zone, goods can be manufactured further and re-exported without the oversight of customs authorities.
Detailed explanation-2: -A free trade zone is any location where goods can be shipped, handled, manufactured, reconfigured and re-exported without the involvement of customs agencies. A major seaport, an international airport or a border facility between two or more countries may be designated a free trade zone.
Detailed explanation-3: -free trade, also called laissez-faire, a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).
Detailed explanation-4: -Free-trade zones are organized around major seaports, international airports, and national frontiers-areas with many geographic advantages for trade. Examples include Hong Kong, Singapore, Colón (Panama), Copenhagen, Stockholm, Gdańsk (Poland), Los Angeles, and New York City.