Practicing Success

Target Exam

CUET

Subject

Political Science

Chapter

Contemporary World Politics: International Organisations

Question:

Which statement about the World Trade Organisation is incorrect?

Options:

The WTO sets the rules for global trade.

This organisation was set up in 1995 as the successor to the General Agreement on Trade and Tariffs (GATT).

The developing countries often express their satisfaction with the transparent procedures and being taken special care by big powers.

It has 164 members (as of 29 July 2016).

Correct Answer:

The developing countries often express their satisfaction with the transparent procedures and being taken special care by big powers.

Explanation:

The correct answer is Option 3 - The developing countries often express their satisfaction with the transparent procedures and being taken special care by big powers.

Statement about the World Trade Organisation:

Option 1- The WTO sets the rules for global trade. (CORRECT)
Option 2- This organisation was set up in 1995 as the successor to the General Agreement on Trade and Tariffs (GATT). (CORRECT)
Option 3- The developing countries often express their satisfaction with the transparent procedures and being taken special care by big powers. (INCORRECT)
Option 4- It has 164 members (as of 29 July 2016). (CORRECT)

 

Correction in the incorrect statement:

Option 3- The developing countries often complain of non-transparent procedures and being pushed around by big powers.

The World Trade Organisation:

The World Trade Organisation ( WTO ) is an international organisation which sets the rules for global trade. This organisation was set up in 1995 as the successor to the General Agreement on Trade and Tariffs (GATT) created after the Second World War. It has 164 members (as on 29 July 2016). All decisions are taken unanimously but the major economic powers such as the US, EU and Japan have managed to use the WTO to frame rules of trade to advance their own interests. The developing countries often complain of non-transparent procedures and being pushed around by big powers.