Asked by nicole morris on Sep 28, 2024
Verified
The _____ formed in 1995, and it administers its own trade agreements, facilitates future trade negotiations, settles trade disputes, and monitors the trade policies of member nations
A) International Monetary Fund
B) United Nations
C) World Trade Organization
D) North American Free Trade Act
E) European Union
World Trade Organization
An international organization that regulates international trade with the aim of ensuring trade flows as smoothly, predictably, and freely as possible.
Trade Agreements
Formal agreements between countries that determine the rules of trade between them, including tariffs, import quotas, and product standards.
Trade Disputes
Conflicts that arise between countries or businesses over aspects of trade, including tariffs, trade barriers, or disagreements on trade agreements.
- Gain an insight into the operations of international trade and its regulatory frameworks.
Verified Answer
BS
Brennan Smithabout 6 hours ago
Final Answer :
C
Explanation :
The World Trade Organization (WTO) was formed in 1995 and has the responsibilities mentioned in the statement. The International Monetary Fund and United Nations deal with broader international economics and politics, while the North American Free Trade Act is a specific trade agreement between Canada, the United States, and Mexico. The European Union is a political and economic union of European countries.
Learning Objectives
- Gain an insight into the operations of international trade and its regulatory frameworks.