Practice Wto (5.7.1) - Globalization - ICSE 9 Economic Applications

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8 questions

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6 sample questions

Question 1.
What does WTO stand for?
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Think of the letters in 'WTO'.
Question 2.
What is a tariff?
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Consider any extra charge for goods coming from other countries.
3Question 3.
What does the WTO primarily promote?
- Free trade
- Import quotas
- Export subsidies
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Think about how countries trade with each other.
4Question 4.
True or False: The WTO can impose tariffs on countries.
- True
- False
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Consider the WTO's function relative to national policies.
Question 5.
Analyze a case where a country imposed tariffs, and explain how this could lead to a trade dispute with another country.
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Consider the implications of tariffs on international relationships.
Question 6.
Evaluate the benefits and drawbacks of the WTO's influence on global trade.
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Think about both sides of how global trade impacts local economies.

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