International Trade Organizations and Their Functions

The video explains the roles of international trade organizations, focusing on GATT and its transition to WTO. It highlights GATT's principles and limitations, leading to the establishment of WTO, which offers a broader scope and efficient dispute resolution. The video also covers UNCTAD's efforts in bridging economic disparities and promoting trade between developed and developing countries.

What was a major challenge that led to the establishment of international trade organizations post-World War II?

• Political alliances

• Cultural differences

• Economic instability

• Technological advancements

Which principle was NOT a part of GATT's objectives?

• Monetary policy regulation

• Protection through tariffs

• Consultation among member nations

• Trade without discrimination

Which year was GATT established?

• 1948

• 1945

• 1964

• 1950

What was a key reason for replacing GATT with WTO?

• GATT was too broad in scope

• WTO had a faster dispute settlement mechanism

• GATT focused on services

• WTO was a temporary organization

What does WTO stand for?

• World Transport Organization

• World Trade Organization

• World Technology Organization

• World Tourism Organization

Which of the following is NOT a role of the WTO?

• Conducting trade negotiations

• Monitoring trade policies

• Providing military support

• Training government officials

What is one of the roles of WTO in the international business scenario?

• Regulating global stock markets

• Encouraging countries to ignore trade rules

• Providing financial aid to all countries

• Acting as a tribunal for trade disputes

What is the primary objective of UNCTAD?

• To regulate global currency exchange

• To establish international environmental policies

• To reduce disparities between rich and poor countries

• To promote military alliances

Which of the following is a function of UNCTAD?

• Standardizing global education

• Regulating global internet usage

• Promoting international trade

• Negotiating military treaties

Where is the headquarters of UNCTAD located?

• Paris, France

• Geneva, Switzerland

• New York, USA

• Tokyo, Japan