BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a tariff
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a common market
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an embargo
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a quota
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Detailed explanation-1: -Which of the following would most likely promote international trade? C is correct. Improvements in transportation, including faster transport, help international trade.
Detailed explanation-2: -Main world traders: EU, USA and China In 2021, the EU, the United States and China recorded by far the world’s highest trade in goods values. Together, these countries accounted for around 45 % of global imports and 44 % of global exports of goods (see Figure 1).
Detailed explanation-3: -International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.
Detailed explanation-4: -For the United States, the main goal of trade agreements is to reduce barriers to U.S. exports, protect U.S. interests competing abroad, and enhance the rule of law in the FTA partner country or countries. Currently, the United States has 14 FTAs with 20 countries.