WTO aims at
Establishing rules for domestic trade
Restricting trade practices
Liberalizing international trade
Free trade
The main inconvenience of barter system was
Transactions were many and complex
Lack of double coincidence of wants
The intermediate commodity need not be familiar
Prevalence of domestic system
Technology transfer has been taking place on a large scale through
Licensing agreements and joint ventures
Choice of ownership structure
Simplification of procedures
Increasing degree of openness in respect of international trade
One major government initiative to attract foreign companies to invest in India is
To raise the standard of education
To promote unemployment in the public sector
To build special economic zones
To promote village level programmes
Trade between countries
Determines prices of products in different countries
Makes a country dependent on the other
Country independent
The decision to start IMF was taken at
Round-table conference
Geneva conference
Bretton woods conference
Uruguay Round
The most dominant group in the World Trade Organization (WTO) is of
Developing countries
Developed countries
Countries of the middle east
Asian countries
What steps can the government take to ensure that the benefits of globalization are shared better?
To ensure the proper implementation of labour laws
To support small producers to improve their performance
Using the trade and investment barriers, if necessary
All the above
Globalization can create problems for business because
It can result in more competition
It increases vulnerability to political risk and uncertainty when operating abroad
It means that they can increase prices
It means that they can decrease prices
