Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Indian Economic Development: Liberalisation, Privatisation and Globalisation - An Appraisal

Question:

Which of the following statements are true :

A. WTO facilitate international trade by levying Tariff

B. WTO facilitate international trade by owning cargo flight

C. WTO facilitate international trade through removal of Tariff

D. Developing countries feel cheated as they are forced by WTO to open their market for developed countries.

E. Developing countries feel cheated as USA forced to sell their products.

Choose the correct answer from the options given below :

Options:

A and B only

B and E only

C and D only

A and E only

Correct Answer:

C and D only

Explanation:

The correct answer is option (3) : C and D only

C. WTO facilitates international trade through the removal of tariffs: This is true because the WTO aims to promote free trade by reducing barriers such as tariffs, quotas, and subsidies.
 
D. Developing countries feel cheated as WTO forced them to open their markets for developed countries: This is also true, as many developing countries have expressed concerns that the WTO's policies disproportionately benefit developed countries, forcing them to open their markets while not receiving equal benefits in return.

The other statements are incorrect because:

A. WTO facilitates international trade by levying tariffs: This is false; the WTO's role is to reduce tariffs, not levy them.
B. WTO facilitates international trade by owning cargo flights: This is false; the WTO does not own or operate cargo flights.
E. Developing countries feel cheated as USA forced to sell their products: This is false.