1.3 The _______________ is primarily responsible for policing the world trading system and making sure nation-states adhere to the rules laid down in trade treaties signed by member states. (1)
A. International Development Association
B. World Bank
C. International Court of Justice
D. World Trade Organisation
1.4 Suitable options for competing in a fragmented industry could include the following. (1)
A. Constructing and operating “formula” facilities
B. Not becoming a low-cost operator
C. Not specialising by product type
D. Not specialising by customer type
To answer question 1.3 - The organization primarily responsible for policing the world trading system and ensuring adherence to the rules laid down in trade treaties is the World Trade Organization (WTO). The WTO is an international body that deals with the global rules of trade between nations. It helps to ensure that trade flows as smoothly, predictably, and freely as possible.
To get this answer, you can use various methods:
1. Consult relevant textbooks or study materials: Look for information about international trade organizations, such as the WTO, in textbooks or study materials that cover international economics or trade-related subjects.
2. Use credible online sources: Visit reputable websites, such as the official website of the WTO or other trusted sources that provide information about international trade organizations. These sources usually provide clear and reliable information about the roles and responsibilities of international trade organizations.
Now, let's move on to question 1.4 -
Question 1.4 asks for suitable options for competing in a fragmented industry. The correct options for competing in a fragmented industry can vary depending on the specific circumstances and characteristics of the industry. However, suitable options could include:
A. Constructing and operating "formula" facilities: In a fragmented industry, building and operating standardized facilities that can be replicated across different locations or markets can help to achieve economies of scale and cost advantages.
B. Not becoming a low-cost operator: Competing on the basis of low-cost is not always the best strategy in a fragmented industry, as it may lead to intense price competition. Instead, focusing on other differentiating factors such as quality, innovation, or customer service may be more effective.
C. Not specializing by product type: In a fragmented industry, it may be beneficial to offer a wide range of products or services to cater to different customer needs and preferences. This diversification can help mitigate the risks associated with a highly competitive and fragmented market.
D. Not specializing by customer type: Similarly, serving a broad range of customer segments within the fragmented industry can help capture a larger market share and reduce dependence on a specific customer segment.
To answer this question, it is important to analyze the characteristics of the specific fragmented industry in question and consider the potential advantages and disadvantages of each option.
Remember, these answers are based on general principles, and it is always important to conduct further research or consult relevant experts to tailor the answer to the specific industry or context.