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

The first ministerial meeting of WTO was held in _________.

  1. 1994

  2. 1996

  3. 1998

  4. 2000
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
First Ministerial Meeting of the WTO: On 9th December, 1996, the first inaugural ministerial meeting of the 128 member  World Trade Organisation (WTO) was held at Singapore, which is the first of its kind since the world trade body replaced the General Agreement on Tariffs and Trade in January 1995.
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 not a major objective of the WTO?

  1. Increase international trade barriers

  2. Reduce international trade barriers

  3. Promote optimal use of world resources

  4. Create a more integrated trading system
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The major objectives of WTO is to reduce the trade barriers, promote optimal use of world resources, create a more integrated trading system.

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.