Question
How does the World Trade Organization affect international trade? Check the four that apply.
It settles trade disputes between countries.
It tends to benefit developed countries more.
It promotes fair trade in developing nations.
It removes limits on how goods are produced.
It protects consumers by inspecting food products.
It protects workers from poor working conditions.
It settles trade disputes between countries.
It tends to benefit developed countries more.
It promotes fair trade in developing nations.
It removes limits on how goods are produced.
It protects consumers by inspecting food products.
It protects workers from poor working conditions.
Answers
GPT-4o mini
The World Trade Organization (WTO) affects international trade in several ways. The following four statements apply:
1. **It settles trade disputes between countries.** - One of the key functions of the WTO is to provide a forum for resolving disputes that arise between member countries regarding trade agreements.
2. **It tends to benefit developed countries more.** - Critics often argue that the rules and agreements facilitated by the WTO favor developed countries due to their stronger bargaining positions and greater resources, leading to imbalances in benefits.
3. **It promotes fair trade in developing nations.** - The WTO supports initiatives aimed at improving the trading conditions for developing countries, though the effectiveness and fairness of these initiatives can be debated.
4. **It removes limits on how goods are produced.** - The WTO works towards reducing trade barriers and restrictions, which can include limits on how goods are produced, allowing for greater market access.
The other two statements regarding consumer protection and worker rights are generally outside the direct mandate of the WTO.
1. **It settles trade disputes between countries.** - One of the key functions of the WTO is to provide a forum for resolving disputes that arise between member countries regarding trade agreements.
2. **It tends to benefit developed countries more.** - Critics often argue that the rules and agreements facilitated by the WTO favor developed countries due to their stronger bargaining positions and greater resources, leading to imbalances in benefits.
3. **It promotes fair trade in developing nations.** - The WTO supports initiatives aimed at improving the trading conditions for developing countries, though the effectiveness and fairness of these initiatives can be debated.
4. **It removes limits on how goods are produced.** - The WTO works towards reducing trade barriers and restrictions, which can include limits on how goods are produced, allowing for greater market access.
The other two statements regarding consumer protection and worker rights are generally outside the direct mandate of the WTO.