Marketers considering operations and trade with a specific country must consider whether the country belongs to a trading bloc. A trading bloc is a group of countries

Question

Quizplus · Accepted Answer

A trading bloc is a group of countries that have established a formal agreement to manage trade activities. Option A is the only choice that accurately describes what a trading bloc is. Option B is incorrect because using the same currency is not a defining characteristic of a trading bloc (e.g. the European Union uses the euro, but not all EU countries are part of the same trading bloc). Option C is incorrect because similar cultural shopping patterns do not necessarily indicate a formal trade agreement. Option D is incorrect because countries located next to each other do not necessarily have a formal trade agreement. Option E is incorrect because countries with similar political views do not necessarily have a formal trade agreement.

Marketers Considering Operations and Trade with a Specific Country Must