When was the World Trade Organization (WTO) established?
a) 1985
b) 1995
c) 2000
d) 2010
What is the main objective of the WTO?
a) To regulate exchange rates
b) To promote free and fair trade
c) To provide financial aid to developing countries
d) To control inflation
Which agreement established the WTO?
a) Bretton Woods Agreement
b) GATT 1994
c) Maastricht Treaty
d) Doha Round
What does GATT stand for?
a) General Agreement on Tariffs and Trade
b) Global Agreement on Trade and Technology
c) General Agreement on Trade and Taxes
d) Global Association for Tariffs and Trade
Which of the following is NOT a principle of the WTO?
a) Non-discrimination
b) Trade barriers
c) Transparency
d) Predictability
Which WTO principle ensures that all trading partners are treated equally?
a) National Treatment
b) Most Favored Nation (MFN)
c) Tariff Binding
d) Reciprocity
What is the highest decision-making body of the WTO?
a) The Ministerial Conference
b) The General Council
c) The Appellate Body
d) The Secretariat
Which WTO body handles trade disputes between countries?
a) General Council
b) Dispute Settlement Body
c) Trade Policy Review Body
d) Appellate Body
What is the main function of the WTO’s Appellate Body?
a) To review decisions made by the Dispute Settlement Body
b) To create new trade laws
c) To impose trade sanctions
d) To mediate between governments
Which round of trade negotiations led to the formation of the WTO?
a) Uruguay Round
b) Doha Round
c) Tokyo Round
d) Geneva Round
How many founding members did the WTO have in 1995?
a) 76
b) 123
c) 150
d) 165
Which agreement under the WTO deals with trade-related intellectual property rights?
a) GATS
b) TRIPS
c) TPRM
d) SPS
Which WTO agreement focuses on services trade?
a) TRIPS
b) GATS
c) SPS
d) TPRM
What does SPS stand for in WTO agreements?
a) Sanitary and Phytosanitary Measures
b) Special Preferential Subsidies
c) Strategic Policy System
d) Standardized Pricing System
Which of the following is NOT a function of the WTO?
a) Administering trade agreements
b) Resolving trade disputes
c) Providing loans to member countries
d) Reviewing national trade policies
Which country is the largest goods exporter in the WTO?
a) China
b) United States
c) Germany
d) Japan
What does the WTO’s Trade Policy Review Mechanism (TPRM) do?
a) Conducts reviews of national trade policies
b) Punishes countries for unfair trade practices
c) Negotiates trade agreements
d) Provides legal advice to member states
What does “National Treatment” in WTO rules mean?
a) Domestic and foreign products must be treated equally
b) Countries must give preference to local products
c) Only domestic industries receive subsidies
d) Foreign businesses have stricter regulations
Which country joined the WTO most recently?
a) Russia
b) Afghanistan
c) Kazakhstan
d) Comoros
Which WTO principle discourages unnecessary trade restrictions?
a) Transparency
b) Market Access
c) Predictability
d) National Treatment
What is the WTO’s policy on subsidies?
a) All subsidies are banned
b) Subsidies that distort trade are regulated
c) Only developed countries can provide subsidies
d) The WTO does not regulate subsidies
Which trade negotiation round is currently ongoing under the WTO?
a) Doha Round
b) Uruguay Round
c) Geneva Round
d) Tokyo Round
What is the WTO’s stance on environmental protection?
a) Supports sustainable development while promoting trade
b) Opposes all environmental regulations
c) Gives preference to environmental policies over trade
d) Ignores environmental concerns
Which country was the last to ratify the WTO’s Trade Facilitation Agreement (TFA)?
a) India
b) Chad
c) Afghanistan
d) Sudan
Which of the following is NOT a WTO agreement?
a) TRIPS
b) TBT
c) NAFTA
d) GATS
What does the WTO’s Agreement on Agriculture (AoA) focus on?
a) Regulating food production
b) Reducing agricultural subsidies
c) Controlling food prices
d) Encouraging GMO crops
Which dispute led to one of the most well-known WTO rulings?
a) Airbus-Boeing Subsidy Case
b) US-China Tariff War
c) Brexit Trade Disputes
d) India-Pakistan Trade Ban
How does the WTO settle disputes?
a) Through binding arbitration
b) Through mutual agreements between parties
c) By imposing economic sanctions
d) By removing trade privileges
Which WTO principle ensures that trade policies are predictable?
a) Transparency
b) Non-Discrimination
c) Predictability
d) Reciprocity
