Tag: facilitators of international business

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Multiple choice political science facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

Which of the following is a function of the WTO?

  1. Laying down a commonly accepted code of conduct to reduce trade barriers

  2. Acting as a dispute settlement body

  3. Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The functions of WTO are:

1: Laying down a commonly accepted code of conduct to reduce trade barriers.
2: Acting as a dispute settlement body.
3: Ensuring that all the rules regulations prescribed in the Act are duly followed by the member countries for the settlement of their disputes.

Multiple choice commerce facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

One of the functions of WTO is to promote an environment that is encouraging to its member countries to come forward to WTO in mitigating their grievances.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

A core function of the WTO is to provide a forum for trade negotiations and a mechanism for dispute settlement, which helps members resolve grievances in a structured, rule-based environment.

Multiple choice commerce facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

Identify the function(s) of WTO.

  1. WTO acts as a dispute settlement body.

  2. Supervising on a regular basis the operations of the revised Agreements and Ministerial declarations relating to goods, services and Trade Related Intellectual Property Rights (TRIPS).

  3. Laying down a commonly accepted code of conduct.

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The WTO performs all these functions: it manages the dispute settlement system, oversees the implementation of trade agreements, and provides a forum for negotiating trade rules.

Multiple choice commerce facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

Which of the following is not the objective of the WTO?

  1. To improve the standard of living of peoples of the member countries.

  2. To enlarge production and trade of goods.

  3. To protect environment.

  4. To improve the Balance of Payment situation of the member countries.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The WTO's primary objectives relate to trade liberalization, raising standards of living, and ensuring full employment. While it considers sustainable development, improving the Balance of Payment (BoP) of member countries is primarily the mandate of the IMF, not the WTO.

Multiple choice commerce facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

Consequent to the decision in ______ round, the GATT was transformed into World Trade Organisation (WTO).

  1. Uruguay

  2. Torquay

  3. Annecy

  4. Geneva
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The Uruguay Round of multilateral trade negotiations (1986-1994) led to the Marrakesh Agreement, which formally replaced the GATT with the World Trade Organization.

Multiple choice commerce facilitators of international business introduction, status, objectives, features, scope and functions of the wto world trade organisation (wto) world trade organisation

_____ is a member driven rule-based organisation in the sense that all the decisions are taken by the member governments on the basis of a general consensus.

  1. IMF

  2. GATT

  3. World Bank

  4. WTO
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The WTO operates on the principle of consensus among its member governments, making it a member-driven, rule-based organization.