World Trade Organization Quiz

What is the primary role of the World Trade Organization?

• To regulate domestic markets

• To facilitate international trade by reducing barriers

• To manage global financial markets

• To impose tariffs on all imports

What was the General Agreement on Tariffs and Trade (GATT) primarily focused on?

• Increasing tariffs on services

• Promoting domestic trade

• Eliminating all trade barriers

• Reducing tariffs on goods

Which principle allows developing countries to establish new industries with fewer restrictions?

• Safety values

• Infant industry clause

• Reciprocity

• Non-discrimination

What is the highest authority within the WTO?

• General Council

• Trade Policy Review Body

• Ministerial Conference

• Dispute Settlement Body

How often does the Ministerial Conference meet?

• Every 5 years

• Every 2 years

• Every 10 years

• Every year

How does the WTO's decision-making process affect equality among member countries?

• It ensures complete equality among all countries

• It favors richer countries due to their leverage

• It excludes developing countries from decision-making

• It speeds up the decision-making process

What is a criticism of the WTO's non-discrimination principle?

• It increases tariffs on exports

• It allows for unfair competition from subsidized goods

• It promotes environmental degradation

• It favors developed countries over developing ones

What impact does the WTO have on environmental protection?

• It enforces strict environmental regulations

• It prioritizes environmental protection over trade

• It has no impact on the environment

• It often results in environmental degradation

What is one of the main criticisms of the WTO's impact on developing countries?

• It allows developed countries to impose high tariffs

• It restricts developing countries from joining the WTO

• It provides too much support to developing countries

• It disadvantages developing countries by promoting free trade

What is the effect of the WTO on global trade barriers?

• It increases trade barriers

• It has no effect on trade barriers

• It significantly reduces trade barriers

• It only affects trade barriers in developed countries