Which of the following was NOT a goal of the GATT as stated in the presentation? Regulate and reduce tariffs Expand exchange of goods Encourage free trade Eliminate supply and demand

Question

Which of the following was NOT a goal of the GATT as stated in the presentation? Regulate and reduce tariffs Expand exchange of goods Encourage free trade Eliminate supply and demand

Answer 1

## Step 1The General Agreement on Tariffs and Trade (GATT) was an international trade agreement that aimed to promote international trade by reducing trade barriers such as tariffs and quotas. The main goals of GATT were to regulate and reduce tariffs, expand the exchange of goods, and encourage free trade.## Step 2The option "Eliminate supply and demand" does not align with the goals of GATT. Supply and demand are fundamental economic principles that determine the price and quantity of goods and services in a market. GATT's objectives were to facilitate trade and not to eliminate these basic economic principles.

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Which of the following was NOT a goal of the GATT as stated in the presentation? Regulate and reduce tariffs Expand exchange of goods Encourage free trade Eliminate supply and demand

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