Topics:
CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books
WTO Purpose
WTO is expected to establish:
- Government-controlled trade between nations
- A rule-based trading regime where nations cannot place arbitrary restrictions — Correct Answer
- A system where only developed countries can trade freely
- Trade restricted to bilateral agreements only
Explanation:
Correct Answer Explanation
WTO is expected to establish a rule-based trading regime where nations cannot place arbitrary restrictions on trade.
Key Points:
- Purpose also to enlarge production and trade of services.
- Ensure optimum utilisation of world resources and protect the environment.
- Covers trade in goods as well as services.
- Facilitates removal of tariff and non-tariff barriers.
📚 About this Topic — CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL
This multiple choice question is from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-3: LIBERALISATION, PRIVATISATION AND GLOBALISATION: AN APPRAISAL to strengthen your preparation.
