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International Trade
Question
What is the basic function of the World Trade Organisation?
Solution
The basic functions of W.T.O. are as under.
1. To look after the promotion of free and fair trade amongst nations.
2. It sets the rules for the global trading system and resolves the dispute between its member nations.
3. It deals with the global rule of trade between nations. It also covers trade in services such as telecommunication and banking and other issues.
Some More Questions From International Trade Chapter
Most of the world’s great ports are classified as:
Which one of the following continents has the maximum flow of global trade?
Which one of the following South American nation, is a part of OPEC?
In which of the following trade blocs is India an associate member?
What is the basic function of the World Trade Organisation?
Why is it deterimental for a nation to have negative balance of payments?
What benefits do nations get by forming trading blocs?
How are ports helpful for trade? Give a classification of ports on the basis of their location.
How do nations gain from international trade?
What are out ports? Define with examples.
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Mock Test Series
Mock Test Series