O-LevelCommerceGlobal trade7100/11 · Oct/Nov 2015 · Q171 Mark

Which definition describes a trading bloc?

Agroup of countries which agree to eliminate all trading restrictions with each other

Bgroup of countries which control supplies of natural resources to influence world prices

Clarge multinational company which tries to monopolise global trade in all its products

Dnumber of companies which deal in similar products and share advertising costs

✓ Correct answer

A: group of countries which agree to eliminate all trading restrictions with each other

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Topic: Global trade, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2015 Paper 1 Variant 1, question 17.

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