Tag: introduction, status, objectives, features, scope and functions of the wto

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Questions Related to introduction, status, objectives, features, scope and functions of the wto

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 institution is associated with Dunkel Proposals?

  1. World Bank

  2. International Monetary Fund

  3. World Trade Organization

  4. United Nations Organization
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The Dunkel Proposals, named after Arthur Dunkel, were the draft agreements that formed the basis for the final Marrakesh Agreement, which established the World Trade Organization.

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

The World Trade Organisation is the successor to the ____________.

  1. UNCTAD

  2. ADB

  3. IMF

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

The World Trade Organization was established on January 1, 1995, replacing the General Agreement on Tariffs and Trade (GATT), which had been in place since 1948.

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

The WTO has ___________.

  1. no legal status

  2. a legal status

  3. a special status

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The WTO has full legal personality under international law, meaning it can contract, acquire property, and enjoy legal privileges and immunities necessary for its functions. This legal status, granted in the Marrakesh Agreement, enables the WTO to operate effectively as an international organization.

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

Most of the counter trade agreements involve essential items of food like ____________.

  1. Rice

  2. Barley

  3. Wheat

  4. (A) and (C)
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Counter trade agreements often involve essential commodities to ensure food security. Both rice and wheat are staple grains commonly traded under such arrangements.

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 one is not the source of external finance?

  1. WTO Funds

  2. World Bank Group

  3. Export Credit

  4. Foreign Direct Investment
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The sources for external finances that are available are export credit, world bank group, foreign direct investment. The WTO funds are not a source of external finances.

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

TRIP is one of the WTO agreements that deal with _________.

  1. Trade in Agriculture

  2. Trade in Services

  3. Trade Related Investment Measures

  4. None of the Above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

TRIP is one of the WTO agreements that deals with areas of intellectual property like copyright and related rights, trademarks including service marks, patents etc. 

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 among the following are important bodies of WTO?
i) Dispute Settlement Body
ii) NAFTA
iii) Trade Policy Review Body
iv) ASEAN
v) Council for Trade in Goods
vi) IBRD
vii) Council for Trade related aspects of Intellectual Property Rights.
viii) GATT
Which of the following are an appropriate combination?

  1. i, ii, iii, iv

  2. ii, iii, iv, v

  3. i, iii, v, vi

  4. iv, v, vi, viii
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The important bodies of the World Trade Organization (WTO) are Dispute settlement bodies, trade policy review body, council for trade in goods, council for trade related aspects of intellectual property rights.

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

WTO is considered as a ______________.

  1. Poor men's club

  2. Rich men's club

  3. Trade union

  4. Chamber of commerce
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The WTO is often criticized by developing nations as a 'rich men's club' because the rules and negotiations are frequently perceived to favor the interests of developed, industrialized nations.

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 organisation sets the rule of trade on a global scale?

  1. World Trade Organisation

  2. World Organisation of Trade

  3. Both (A) and (B)

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

World Trade Organisation

The World Trade Organization is the only international institution that oversees the global trade rules between nations. The WTO is based on agreements signed by the majority of the world's trading nations. The main function of the organization is to help producers of goods and services, exporters, and importers protect and manage their businesses.