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Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?
1. Promotion of free trade and resource flows across countries
2. Protection of intellectual property rights
3. Managing a balanced trade between different countries
4. Promotion of trade between the former East Bloc countries and the western world
Select the correct answer by using the codes given below:
Codes:
1. Promotion of free trade and resource flows across countries
2. Protection of intellectual property rights
3. Managing a balanced trade between different countries
4. Promotion of trade between the former East Bloc countries and the western world
Select the correct answer by using the codes given below:
Codes:
- a)1, 2, 3 and 4
- b)1 and 2
- c)2 and 3
- d)1 and 4
Correct answer is option 'B'. Can you explain this answer?
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Q. Which of the following were the aims behind the setting up of the W...
World Trade Organization (WTO) is a body making global trade rules with binding effects on its members. It is not only an institution, but also a set of agreements. The WTO regime is known as the rules- based multilateral trading system. The history of the Organization dates back to 1947, when the General Agreement on Tariffs and Trade (GATT) was set up to reduce tariffs barriers, remove trade barriers and facilitate international trade in goods and services
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Q. Which of the following were the aims behind the setting up of the W...
Aim of World Trade Organization (WTO)
The World Trade Organization (WTO) was established in 1995 with the aim of promoting free trade and resource flows across countries. It replaced the General Agreement on Tariffs and Trade (GATT) which was established in 1947.
The main aims of the WTO are:
1. Promotion of free trade and resource flows across countries: The WTO aims to reduce trade barriers such as tariffs and quotas that restrict the flow of goods and services across borders. It encourages countries to open up their markets to foreign competition, which can lead to increased economic growth and development.
2. Protection of intellectual property rights: The WTO also aims to protect intellectual property rights such as patents, trademarks, and copyrights. This is important for promoting innovation and technological advancement, as it provides incentives for companies to invest in research and development.
3. Managing a balanced trade between different countries: The WTO aims to ensure that trade between countries is balanced and fair. It provides a platform for negotiations and dispute resolution between member countries, which can help to prevent trade wars and other conflicts.
4. Promotion of trade between the former East Bloc countries and the western world: While not a specific aim of the WTO, it has helped to promote trade between the former East Bloc countries and the western world by providing a framework for negotiations and agreements.
Therefore, the correct answer is option B (1 and 2).
The World Trade Organization (WTO) was established in 1995 with the aim of promoting free trade and resource flows across countries. It replaced the General Agreement on Tariffs and Trade (GATT) which was established in 1947.
The main aims of the WTO are:
1. Promotion of free trade and resource flows across countries: The WTO aims to reduce trade barriers such as tariffs and quotas that restrict the flow of goods and services across borders. It encourages countries to open up their markets to foreign competition, which can lead to increased economic growth and development.
2. Protection of intellectual property rights: The WTO also aims to protect intellectual property rights such as patents, trademarks, and copyrights. This is important for promoting innovation and technological advancement, as it provides incentives for companies to invest in research and development.
3. Managing a balanced trade between different countries: The WTO aims to ensure that trade between countries is balanced and fair. It provides a platform for negotiations and dispute resolution between member countries, which can help to prevent trade wars and other conflicts.
4. Promotion of trade between the former East Bloc countries and the western world: While not a specific aim of the WTO, it has helped to promote trade between the former East Bloc countries and the western world by providing a framework for negotiations and agreements.
Therefore, the correct answer is option B (1 and 2).
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Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer?
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Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer?.
Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer? for Defence 2024 is part of Defence preparation. The Question and answers have been prepared according to the Defence exam syllabus. Information about Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Defence 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer?.
Solutions for Q. Which of the following were the aims behind the setting up of the World Trade Organization (WTO)?1. Promotion of free trade and resource flows across countries2. Protection of intellectual property rights3. Managing a balanced trade between different countries4. Promotion of trade between the former East Bloc countries and the western worldSelect the correct answer by using the codes given below:Codes:a)1, 2, 3 and 4b)1 and 2c)2 and 3d)1 and 4Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Defence.
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