Question

Write a word or phrase or a term which can substitute each of the following statements.
1. The goods which cannot be seen or touched.
2. Name of the firm which is temporary partnership.
3. Name the international organization which dealing with rules of trade between nations.

Answer 1

1. The goods which cannot be seen or touched- Intangible

Explanation:
Intangible refers to the things that cannot be seen or touched. Services such as insurance, telecommunication, banking, etc. are referred to as intangible goods, since they cannot be seen or touched and can only be experienced.

2. Name of the firm which is temporary partnership- Joint Venture

Explanation:
Joint venture is a form of business under which two or more companies come together to form a new business for a finite period of time. This is referred to as temporary partnership, as it is created for a given period of time (or for a specific project) and will come to an end soon after the completion of that period (or project).

3. Name the international organization which dealing with rules of trade between nations- World Trade Organization (WTO)

Explanation:
World Trade organization is the global organisation that forms rules of trade between countries. WTO was established with the aim of removing tariff and non-tariff barriers among member nations and promoting international trade.