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Supply Chain Manager Exam Prep

Category - Global Management

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A trade bloc can be defined as a ____________.

Preferential trade agreement
Economic sanction
Shipment parameters
All of the above

Explanation

Answer: A - A trade bloc can be defined as a "preferential trade agreement" (PTA) between a subset of countries, intended to significantly decrease or remove trade barriers within member countries. When a trade bloc contains neighboring or geographically close countries, it is referred to as a "regional trade (or integration) agreement."

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Supply Chain Manager Exam Prep

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Supply Chain Manager Exam Prep

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