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Consider the following statements regarding Bilateral Trade:
1. Under bilateral trade, equal trade opportunities are given to both countries involved in the agreement.
2. Under bilateral trade, individual negotiation is necessitated with each country.
1. Under bilateral trade, equal trade opportunities are given to both countries involved in the agreement.
2. Under bilateral trade, individual negotiation is necessitated with each country.
Which of the above statements is/are correct?
- a)1 only
- b)2 only
- c)Both 1 and 2
- d)Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding Bilateral Trade:1. Under b...
Both statements are correct
Supplementary notes:
Bilateral Trade
- It refers to a trade agreement between the two countries.
- Equal trade opportunity is given to both countries.
- Individual negotiation is necessitated by each country.
- It promotes economic cooperation between the two countries.
Most Upvoted Answer
Consider the following statements regarding Bilateral Trade:1. Under b...
Explanation:
1. Equal Trade Opportunities:
- In bilateral trade agreements, both countries involved are given equal trade opportunities.
- This means that both countries have the chance to benefit from the agreement in terms of market access, trade liberalization, tariff reductions, etc.
- The agreement is designed to promote a balanced trade relationship between the two countries.
2. Individual Negotiation:
- Under bilateral trade, individual negotiation is necessitated with each country.
- This means that the terms of the trade agreement are negotiated directly between the two countries involved.
- This allows for a more tailored agreement that addresses the specific needs and priorities of each country.
Therefore, both statements are correct as bilateral trade agreements aim to provide equal trade opportunities while requiring individual negotiation with each country.
1. Equal Trade Opportunities:
- In bilateral trade agreements, both countries involved are given equal trade opportunities.
- This means that both countries have the chance to benefit from the agreement in terms of market access, trade liberalization, tariff reductions, etc.
- The agreement is designed to promote a balanced trade relationship between the two countries.
2. Individual Negotiation:
- Under bilateral trade, individual negotiation is necessitated with each country.
- This means that the terms of the trade agreement are negotiated directly between the two countries involved.
- This allows for a more tailored agreement that addresses the specific needs and priorities of each country.
Therefore, both statements are correct as bilateral trade agreements aim to provide equal trade opportunities while requiring individual negotiation with each country.
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Consider the following statements regarding Bilateral Trade:1. Under bilateral trade, equal trade opportunities are given to both countries involved in the agreement.2. Under bilateral trade, individual negotiation is necessitated with each country.Which of the above statements is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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