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Consider the following statements.
  1. World Trade Organization (WTO) determines ‘developed’ and ‘developing’ countries based on its per capita GDP ratio.
  2. WTO provides assistance to developing, least-developed and low-income countries in transition to adjust to WTO rules through technical cooperation and training.
Which of the above statements is/are correct?
  • a)
    1 only 
  • b)
    2 only 
  • c)
    Both 1 and 2 
  • d)
    Neither 1 nor 2
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Consider the following statements. World Trade Organization (WTO) dete...
Trade rules between countries and helps to resolve trade disputes.

This statement is true. The World Trade Organization is an international organization that regulates and facilitates trade between countries. It aims to create a level playing field for all member countries by establishing trade rules and resolving disputes through its dispute settlement mechanism.
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Community Answer
Consider the following statements. World Trade Organization (WTO) dete...
  • The WTO has not defined ‘developed’ and ‘developing’ countries and therefore member countries are free to announce whether they are ‘developed’ or ‘developing’.
  • It is WTO’s duty to review and propagate the national trade policies and to ensure the coherence and transparency of trade policies through surveillance in global economic policy-making. Another priority of the WTO is the assistance of developing, least-developed and low-income countries in transition to adjust to WTO rules and disciplines through technical cooperation and training.
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Consider the following statements. World Trade Organization (WTO) determines ‘developed’ and ‘developing’ countries based on its per capita GDP ratio. WTO provides assistance to developing, least-developed and low-income countries in transition to adjust to WTO rules through technical cooperation and training.Which of the above statements is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'B'. Can you explain this answer?
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