Question

An ever-expanding variety of goods and services are in demand by consumers all around the world. given the importance of world trade, countries are inclined to?

Answer 1

An ever-expanding variety of goods and services are in demand by consumers all around the world. given the importance of world trade, countries are inclined to attempt to control the trade for their own benefit.

The General Agreement on Tariffs and Trade is now administered by the World Trade Organization. The International Court of Justice is composed exclusively of U.S. judges. The Dispute Settlement Body of the World Trade Organization (DSB) is a bona fide court.

International trade allows countries to expand their markets and gain access to goods and services that were not available domestically. World trade has made the market more competitive. This ultimately leads to more competitive pricing and consumers get cheaper products.

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