Understanding Global Trade Organizations

What year was the World Trade Organisation (WTO) established?

• 1985

• 1990

• 1995

• 2000

How many members does the WTO currently have?

• 150

• 200

• 164

• 180

What percentage of total world trade do WTO members represent?

• 98%

• 90%

• 75%

• 85%

What is the primary aim of the WTO?

• To provide loans to developing countries.

• To enforce environmental regulations worldwide.

• To establish global currency standards.

• To promote free trade and regulate international trade agreements.

In what year was the International Monetary Fund (IMF) created?

• 1965

• 1939

• 1944

• 1950

How many member countries are part of the IMF?

• 190

• 180

• 195

• 200

What is one of the main functions of the IMF?

• To set interest rates for global currencies.

• To provide military support to member countries.

• To regulate international trade policies.

• To provide financial assistance to countries in need.

What is the ultimate aim of Transnational Corporations (TNCs)?

• To maximize profits and expand global operations.

• To focus solely on employee welfare and benefits.

• To reduce environmental impact and promote sustainability.

• To promote local businesses and economies.

Why do TNCs aim to keep production costs low?

• To enhance product quality and customer satisfaction.

• To comply with government regulations and standards.

• To increase production time and reduce efficiency.

• To maximize profit margins and remain competitive.

What is a key characteristic of the production chains of many TNCs?

• Production solely based on domestic resources

• Global sourcing and outsourcing of production.

• Local production with no outsourcing

• Strictly regional supply chains