In the context of business, what do the following letters stand for?
Write each answer in the space provided - Leaving Cert Business - Question 2 - 2022
Question 2
In the context of business, what do the following letters stand for?
Write each answer in the space provided.
WTO
EMU
IDA
FDI
CAP
Worked Solution & Example Answer:In the context of business, what do the following letters stand for?
Write each answer in the space provided - Leaving Cert Business - Question 2 - 2022
Step 1
WTO
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Answer
WTO stands for World Trade Organisation. This is an intergovernmental organization that regulates international trade, aiming to ensure that trade flows as smoothly, predictably, and freely as possible.
Step 2
EMU
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Answer
EMU stands for Economic & Monetary Union. This refers to the agreement among European Union member states to adopt a single currency and coordinate their economic policies.
Step 3
IDA
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Answer
IDA refers to the Industrial Development Agency/AUTHORITY. This organization focuses on enhancing industrial development in regions, promoting investments, and supporting economic growth through various initiatives.
Step 4
FDI
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Answer
FDI stands for Foreign Direct Investment. This is an investment made by a company or individual in one country in business interests in another country, often through establishing business operations or acquiring assets.
Step 5
CAP
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Answer
CAP refers to the Common Agricultural Policy. It is a policy framework set by the European Union to provide financial support to farmers, promote sustainable agriculture, and ensure food security.
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