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Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).
1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).
2. The OECD is an official United Nations observer.
3. The OECD have the power to enforce its decisions on its members.
Which of the above statements is/are correct?
- a)1 only
- b)1, 2
- c)1, 3
- d)1, 2, 3
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
Consider the following statements regarding Organisation for Economic ...
- Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, founded in 1961 to stimulate economic progress and world trade.
- It is a forum of countries describing themselves as committed to democracy and the market economy, providing a platform to compare policy experiences, seek answers to common problems, identify good practices and coordinate domestic and international policies of its members.
- Generally, OECD members are high-income economies with a very high Human Development Index (HDI) and are regarded as developed countries.
- The OECD is an official United Nations observer.
- Although the OECD does not have the power to enforce its decisions, which further require a unanimous vote from its members, it is recognised as a highly influential publisher of mostly economic data through publications as well as annual evaluations and rankings of member countries.
Most Upvoted Answer
Consider the following statements regarding Organisation for Economic ...
Organisation for Economic Co-operation and Development (OECD)
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organization that was founded in 1961. It consists of 38 member countries, which are predominantly high-income economies with a very high Human Development Index (HDI). The primary objective of the OECD is to promote economic growth, improve living standards, and provide a platform for governments to discuss and collaborate on policy issues.
Statement 1: Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).
This statement is correct. The OECD consists of member countries that are considered to be high-income economies with a very high HDI. These countries are typically developed nations with advanced economies and a high level of human development.
Statement 2: The OECD is an official United Nations observer.
This statement is incorrect. While the OECD works closely with the United Nations (UN) and maintains a cooperative relationship, it is not an official UN observer. However, the OECD and the UN collaborate on various global issues and often align their work to achieve common goals.
Statement 3: The OECD has the power to enforce its decisions on its members.
This statement is incorrect. The OECD does not have the power to enforce its decisions on its member countries. It operates on the basis of consensus and mutual agreement among its members. The organization provides a platform for countries to discuss and share best practices, but it does not have the authority to impose binding decisions on its members.
In conclusion, statement 1 is correct as the OECD consists of high-income economies with a very high HDI. However, statement 2 is incorrect as the OECD is not an official UN observer. Statement 3 is also incorrect as the OECD does not have the power to enforce its decisions on its members. Therefore, the correct answer is option B, i.e., 1 and 2.
The Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organization that was founded in 1961. It consists of 38 member countries, which are predominantly high-income economies with a very high Human Development Index (HDI). The primary objective of the OECD is to promote economic growth, improve living standards, and provide a platform for governments to discuss and collaborate on policy issues.
Statement 1: Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).
This statement is correct. The OECD consists of member countries that are considered to be high-income economies with a very high HDI. These countries are typically developed nations with advanced economies and a high level of human development.
Statement 2: The OECD is an official United Nations observer.
This statement is incorrect. While the OECD works closely with the United Nations (UN) and maintains a cooperative relationship, it is not an official UN observer. However, the OECD and the UN collaborate on various global issues and often align their work to achieve common goals.
Statement 3: The OECD has the power to enforce its decisions on its members.
This statement is incorrect. The OECD does not have the power to enforce its decisions on its member countries. It operates on the basis of consensus and mutual agreement among its members. The organization provides a platform for countries to discuss and share best practices, but it does not have the authority to impose binding decisions on its members.
In conclusion, statement 1 is correct as the OECD consists of high-income economies with a very high HDI. However, statement 2 is incorrect as the OECD is not an official UN observer. Statement 3 is also incorrect as the OECD does not have the power to enforce its decisions on its members. Therefore, the correct answer is option B, i.e., 1 and 2.
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Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?
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Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?.
Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Consider the following statements regarding Organisation for Economic Co-operation and Development (OECD).1. Organisation for Economic Co-operation and Development (OECD) is an intergovernmental economic organisation, whose members are high-income economies with a very high Human Development Index (HDI).2. The OECD is an official United Nations observer.3. The OECD have the power to enforce its decisions on its members.Which of the above statements is/are correct?a)1 onlyb)1, 2c)1, 3d)1, 2, 3Correct answer is option 'B'. Can you explain this answer?.
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