The World Trade Organization is an international organisation that oversees and regulates international trade between countries. It is mainly responsible for regulating trade that involves goods, services, and intellectual properties between the participating countries.
The World Trade Organization helps in facilitating this trade by providing a framework for negotiating the various trade agreements. It also offers resolutions for disputes that may arise between trading nations that fall under WTO agreements.
The following are some multiple-choice questions and answers on the topic WTO, which will help the students in preparing for various academic and competitive exams.
Q.1 When did the World Trade Organization come into effect?
(a)) March 6, 1996
(b) April 8, 1994
(c) February 5, 1994
(d) January 1, 1995
Q.2 How many members are present in the WTO?
Q.3 Where is the headquarters of the WTO located?
(c) New York
(d) Washington DC
Q.4 Which of these institutions is not a part of the World Bank community?
Q.5 Along with the World Bank and __________________, WTO is the third economic pillar of worldwide dimensions.
(a) International Economic Association (IEA)
(b) International Monetary Funds (IMF)
(c) International Development Bank (IDB)
(d) International Funding Organisation (IFO)
Q.6 Which of the following statements is false?
(a) India’s vote share in the International Monetary Fund is 10%.
(b) Both the IMF and the IBRD have headquarters in Washington.
(c) The IBRD is also known as the World Bank.
(d) Both the IMF and the World Bank are known as the Bretton Woods twins.
Q.7 Among the following options, which one is not the objective of the WTO?
(a) To protect environment
(b) To improve the balance of payment situation of the member countries
(c) To improve the standard of living of people of the member countries
(d) To enlarge production and trade of goods
Q.8 Who is the current Director-General of WTO?
(a) Pascal Lamy
(b) Mahmoud Riad
(c) Chedli Klibi
(d) Roberto Azevêdo
Q.9 TRIPS (Trade-Related Aspects of Intellectual Property Rights) agreement is administered by the _______ .
(a) World Bank (WB)
(b) United Nations Organization (UNO)
(c) World Trade Organization (WTO)
(d) United Nations Conference on Trade and Development (UNCTAD)
Q.10 Who is most recently appointed as the Ambassador and Permanent Representative of India to WTO?
(a) JS Deepak
(b) TS Deepak
(c) Anwar Hussain Shaik
(d) Brajendra Navnit
For more information and MCQs based on various commerce topics, the students can visit here.