Practice Quiz

Supply Chain Management

Category - Global Management

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The two principal characteristics of a trade bloc are that it implies a reduction or elimination of barriers to trade and ___________
  1. That it is discriminatory.
  2. That it is restricted to member counties.
  3. Both.
  4. None of the above.
Explanation
Answer: C - The two principal characteristics of a trade bloc are that it implies a reduction or elimination of barriers to trade, and this trade liberalization is discriminatory, in the sense that because it applies only to the member countries of the trade bloc, outside countries are discriminated against in their trade relations with trade bloc members.
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