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Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? for GMAT 2024 is part of GMAT preparation. The Question and answers have been prepared according to the GMAT exam syllabus. Information about Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for GMAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer?.

Solutions for Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for GMAT. Download more important topics, notes, lectures and mock test series for GMAT Exam by signing up for free.

Here you can find the meaning of Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the passage and answer the question given below.Arboria is floundering in the global marketplace, incurring devastating losses in market position and profits. The problem is not Arborias products, but Arborias trade policy. Arboria faces the prospect of continuing economic loss until Arborian business and political leaders recognize the fundamental differences between Arborian and foreign economic systems. Today the key trade issue is not free trade versus protectionism but diminishing trade versus expanding trade.Arboria is operating with an obsolete trade policy, an artifact of the mid-1940s when Arboria and Whorfland dominated the global economy, tariffs were the principal obstacle to trade, and Arborian supremacy was uncontested in virtually all industries. In the intervening decades, economic circumstances have shifted radically. Arborian trade policy has not.Today, Arborias trade policy seems paralyzed by the relentless conflict between proponents of “free” and “fair” trade. The free traders argue that Arborian markets should be open, and the movement of goods and services across national borders unrestrained. The fair traders assert that access to Arborian markets should be restricted until Arborian businesses are granted equal access to foreign markets. They contend that free trade is impossible while other nations erect barriers to Arborian exports. Both are correct: fair trade requires equal access and equal access leads to free trade. But both sides base their positions on the same two outdated premises:1. Global commerce is conducted under the terms of the General Agreement on Tariffs and Trade (GATT) and dominated by Arboria and similar economic systems abroad.2. Multilateral negotiations are the most effective way to resolve pressing trade issues.Both assumptions are wrong. The 40-year-old GATT now covers less than 7 percent of global commerce. World trade is no longer dominated by the free-trade economies; nearly 75 percent is conducted by economic systems operating with principles at odds with those of Arboria. Forging a multilateral trade policy consensus among so many diverse economic systems has become virtually impossible. And while multilateral talks drag on, Arboria misses opportunities for trade expansion.Q. Which of the following best states the difference between free trade and fair trade, as explained in the passage?a)Free trade requires no trade tariffs whatsoever, whereas fair trade assumes multilateral agreement on tariffs for goods of equal worth.b)Free trade is based on the unrestricted movement of goods across all national boundaries, whereas fair trade is based on a nations restriction of commerce with each nation that erects trade barriers to the first nations exports.c)The trade policies of countries like Arboria are based on the principles of free trade, whereas the trade policies of other types of world economies are based on fair trade.d)Free-trade nations negotiate individual trade agreements with each of their trading partners, whereas fair-trade nations conduct multilateral trade negotiations.e)Free trade assumes a constant level of global commerce, whereas fair trade promotes a steady expansion of international trade.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice GMAT tests.