Multiple choice

Directions: Read the passages carefully and complete the statement given underneath by choosing the appropriate option from the following.

In 1964 the United Nations Conference on Trade and Development was held. For the first time the poorer nations of the world came together to act as a pressure group on trading matters. The Conference made the following recommendations. The Developing countries should be given free access to world markets for their manufactures and semi manufactures by the elimination of quotas and tariffs. International commodity agreements should be made for each major primary commodity in world trade to stabilise commodity prices. Moreover, compensation schemes, whereby the underdeveloped countries are compensated for the declining prices of their primary products, were recommended for consideration. The Conference also resolved that the developed countries should aim to provide at least 1 per cent of their national income as aid for the underdeveloped countries.

From the passage we learn that one of the resolutions adopted by the United Nations Conference on Trade and Development ______________.

  1. was soon revoked due to strong pressure coming from underdeveloped member countries.

  2. considerably raised the world trade tariffs on a variety of commodities.

  3. concerned the amount of aid to be given by the developed countries to the underdeveloped.

  4. envisaged a step-by-step lifting of the world's trade barriers.

  5. made it imperative for the developed countries to open up their markets to the manufactured goods of the underdeveloped countries

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

   The Conference also resolved that the developed countries should aim to provide at least 1 per cent of their national income as aid for the underdeveloped countries.