SSC Economics Sample Paper NCERT Sample Paper-1

  • question_answer
    Consider the following regarding the objectives of WTO:
    1. To improve the standard of living of people in member countries.
    2. To ensure full employment and increase in effective demand.
    3. To enlarge production and trade of goods and services. Which of these statements is/are correct?

    A)  Only 1 and 2    

    B)         Only 2 and 3

    C)  Only 1 and 3    

    D)  All 1, 2 and 3

    Correct Answer: D

    Solution :

    [d] The WTO has six key objectives: (1) to set and enforce rules for international trade, (2) to provide a forum for negotiating and monitoring further trade liberalization, (3) to resolve trade disputes, (4) to increase the transparency of decision-making processes, (5) to cooperate with other major international economic institutions involved in global economic management, and (6) to help developing countries benefit fully from the global trading system.

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