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

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

Which of the following body is not related to the WTO?

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

  1. Dispute Settlement Body

  2. Trade Policy Review Body

  3. Council of trade in goods

  4. Exchange Rate Management Body

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Correct Option: D

One of the major objectives of the WTO is _________.

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

  1. Holding consultations with IMF and IBRD and its affiliated agencies.

  2. To promote an integrated, more viable and durable trading system.

  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. The system encourages good government.

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Correct Option: B

In which meeting was the idea of the WTO first coined?

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

  1. Development of poor nations conference

  2. Bretton woods conference

  3. Distribution of wealth meet

  4. None of the above

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Correct Option: B
Explanation:

The Bretton Woods conference was the meeting which coined the idea of World Trade Organization (WTO) and International Monetary Funds (IMF).

Though the WTO has various benefits to its member countries, it has often been criticised for trade rules which are still unfavourable towards developing countries.

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

  1. True

  2. False

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Correct Option: A

Bretton Woods conference agreed upon having some arrangement among themselves so as to liberalise the world. The arrangement is known as __________.

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

  1. Tariff

  2. Customs

  3. International Trade Organization

  4. General Agreement for Tariffs and Trade

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Correct Option: D

______ helps fostering growth of developing countries by providing them with special and preferential treatment in trade related matters.

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

  1. World Bank

  2. WTO

  3. IMF

  4. ITO

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Correct Option: B

Which of the followings are called Brettonwoods Twins?

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

  1. IMF & International Bank for Reconstruction and Development (IBRD)

  2. IMF & World Trade Organisation

  3. IBRD & World Trade Organisation

  4. None of the above

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Correct Option: A

Any state or customs territory having full autonomy in the conduct of its trade policies may join the WTO.

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

  1. True

  2. False

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Correct Option: A

All major decisions are made by the membership as a whole, either by ministers who usually meet _____ or by their ambassadors or delegates.

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

  1. at least twice every two years

  2. each year

  3. at least once every two years

  4. when requied

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Correct Option: C

The ________ Round was officially launched at the WTOs Fourth Ministerial Conference in Qatar, in November 2001.

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

  1. Uruguay

  2. Doha

  3. Geneva

  4. Greece

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Correct Option: B