Topmost authority of World Trade Organization is the ministerial conference which has to meet at least once every
(a) 1 year
(b) 2 years-✔️
(c) 3 years
(d) 4 years
The “Quadrilaterals” or the “Quad” are the four largest members. Besides European Union others are
(a) United States
(b) Canada
(c) Japan
(d) All of the above-✔️
On 9-13 November, 2001 the World Trade Organization’s Fourth Ministerial Conference held in:
(a) Istanbul (Turkey)
(b) Dubai (U.A.E)
(c) Doha (Qatar)-✔️
(d) Tehran (Iran)
The World Trade Organization secretariat is headed by a director-general, has around 500 staff and is based in:
(a) New York
(b) Rome
(c) Geneva-✔️
(d) Brussels
Which of the following is the website address of the World Trade Organization?
(a) http://www.wto.com
(b) http://www.wto.org-✔️
(c) http://www.wtosecretariat.org
(d) http://www.wtosecretariat.com
By the end of June 2002, the World Trade Organization had 144 members and around 34 observer governments. With how many years of becoming observers, these observers must start accession negotiations?
(a) 2 years
(b) 3 years
(c) 4 years
(d) 5 years-✔️
Which law of economics states that “with given preferences or tastes, the proportion of income spent on food diminishes as income increase”?
(a) CommonLaw
(b) Engel’s Law-✔️
(c) Newton’sLaw
(d) None of the above
The economic agent who perceives market opportunities and assembles the factors of production to exploit them in a firm is referred to as
(a) Broker
(b) Entrepreneur-✔️
(c) Middle Agent
(d) Promotor
The residual value of a company’s assets after all outside liabilities have been allowed for is called
(a) Capital
(b) Annuity
(c) Equity-✔️
(d) Business
Enterprise is the controlling unit of a business. The operating unit of a business is called:
(a) Firm
(b) Establishment-✔️
(c) Bureaucracy
(d) Organization
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