Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

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

Question:

Some Scholars question the usefullness of India being a member of the _________ organisation as a major volume of international trade occurs among the developed nations. Identify the organisation.

Options:

World Trade Organisation

United Nations

International Monetary fund

World Bank

Correct Answer:

World Trade Organisation

Explanation:

Some scholars question the usefulness of India being a member of the WTO as a major volume of international trade occurs among the developed nations. They also say that while developed countries file complaints over agricultural subsidies given in their countries, developing countries feel cheated as they are forced to open their markets for developed countries but are not allowed access to the markets of developed countries.