International commodity agreement and its objectives
Answers
Answered by
4
An international commodity agreement is an undertaking by a group of countries to stabilize trade, supplies, and prices of a commodity for the benefit of participating countries. ... A number of international commodity agreements serve solely as forums for information exchange, analysis, and policy discussion.
Objectives
The main objective behind world commodity agreement is to restrict the quantities of exports, particularly the primary goods. The purpose behind is to increase export incomes or stabilize them. These agreements will lead to economic. ... The demand and supply of so many primary exports and imports are less elastic.
Similar questions