World Trade Organization - WTO

The World Trade Organization (WTO) is an international organization that deals with the global rules of trade between nations. It was established on January 1, 1995, and is the successor to the General Agreement on Tariffs and Trade (GATT), which had been in operation since 1948. The WTO’s goal is to ensure that trade flows as smoothly, predictably, and freely as possible.

Which of the following countries is a member of the WTO?

A. Iran

B. North Korea

C. Taiwan

D. Israel

The WTO’s dispute settlement mechanism (DSM) is designed to:

A. Mediate political conflicts

B. Resolve conflicts regarding trade disputes between member countries

C. Regulate domestic tax policies

D. Monitor environmental agreements

Which of the following is NOT a core principle of the WTO?

A. Non-discrimination

B. Trade liberalization

C. Market protectionism

D. Transparency

What is the main goal of the WTO?

A. To reduce global military conflicts

B. To eliminate trade barriers and ensure trade flows smoothly across nations

C. To regulate international migration

D. To establish a universal language for trade

How many countries were original members of the WTO when it was established in 1995?

A. 50

B. 76

C. 128

D. 123

Which of the following is one of the main agreements under the WTO?

A. The Paris Agreement on Climate Change

B. The General Agreement on Tariffs and Trade (GATT)

C. The United Nations Charter

D. The Kyoto Protocol

Which of the following is a primary function of the WTO?

A. To promote military alliances among member countries

B. To regulate global environmental policies

C. To regulate international trade and ensure trade agreements are followed

D. To promote global social welfare

Where is the headquarters of the WTO located?

A. Geneva, Switzerland

B. Paris, France

C. New York, USA

D. London, UK

When was the World Trade Organization (WTO) established?

A. 1945

B. 1950

C. 1995

D. 2000

What does WTO stand for?

A. World Trade Organization

B. World Transport Organization

C. World Tourism Organization

D. World Technology Organization

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