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Question : Formalised system of trading agreements with groups of countries is known as

Option 1: Trading blocks

Option 2: Trade ventures

Option 3: Trade partners

Option 4: Trade organisations


Team Careers360 18th Jan, 2024
Answer (1)
Team Careers360 19th Jan, 2024

Correct Answer: Trading blocks


Solution : The Correct Answer is Trading blocks

Trading blocs are merely associations of nations that set the rules for international commerce. An example of an intergovernmental agreement is a trade bloc, which is frequently a component of a regional intergovernmental organization. In a trade bloc, trade restrictions (such as tariffs and others) are reduced or removed among the participating states. These blocs promote trade and investment within their own regions, which helps the economy grow and develop

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