Question

Which of the following statements correctly describes the World Trade Organization (WTO)? Check all that apply.

A.One of the purposes of the WTO is to oversee international free trade agreements.

B.The movement to establish the WTO arose in opposition to the 1947 General Agreement on Tariffs and Trade (GATT).

C.The WTO promotes the enforcement of rules and regulations governing trade to reduce ambiguity in the business environment.

D.The WTO does not arbitrate trade disputes between member nations.

Answer 1

Answer: Options (A) and (C) are correct.

Explanation:

The World Trade Organization is considered as an intergovernmental organ that is associated with organizing international trade between different nations. WTO's objectives mainly include governing, organizing international trade agreements. Also as a governing body, it encourages rules and their enforcement so that business organizations have utmost transparency.