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World Trade Organization, often called the WTO, is an international organization that promotes trade in goods and services among nations. Most nations belong to the World Trade Organization, whose two main responsibilities are to help members conclude trade negotiations and to act as a neutral judge in trade disputes. The WTO does not determine trade policies. Instead, it helps put into effect decisions made by members.
A WTO member nation has both rights and responsibilities. The most important right guarantees that, except in special circumstances, a country's export goods and services get the same treatment as those of any other WTO member. This treatment includes the same import taxes and other trade restrictions.
The World Trade Organization was founded in 1995. It covered trade in manufactured and agricultural goods. It also regulates trade in services and in intellectual property, which includes such creations are books, computer software, and recordings.
The WTO is one of three major organizations that manage international economic relations among governments. The other two are the International Monetary Fund, which works to improve payment arrangements and other financial dealings between countries, and the World Bank, which provides loans to poorer nation for economic development. WTO headquarters are in Geneva, Switzerland.
1) One of the two main responsibilities of the WTO is _____
A. to determine trade policies
B. to work as a neutral judge in trade disputes
C. to help members make decision in trade
D. to promote trade in goods and services among nations
2) A WTO member nation is guaranteed to ______
A. export the same good as other members
B. have their exports treated the same as other members
C. have as many restrictions as rights
D. pay the same taxes as other members
3) The word "those" in paragraph 2 refers to ______
A. goods and services
B. rights and responsibilities
C. WTO members
D. circumstances
4) The World Trade Organization covers trade in _____
A. all kinds of goods and services
B. agricultural goods
C. intellectual property
D. computer software
5) The WTO, the IMF and the WB are international organizations ______
A. that improve financial matters between countries
B. that have their headquarters in Geneva
C. that manage international economic relations between governments
D. that provide loans to poorer nations
A WTO member nation has both rights and responsibilities. The most important right guarantees that, except in special circumstances, a country's export goods and services get the same treatment as those of any other WTO member. This treatment includes the same import taxes and other trade restrictions.
The World Trade Organization was founded in 1995. It covered trade in manufactured and agricultural goods. It also regulates trade in services and in intellectual property, which includes such creations are books, computer software, and recordings.
The WTO is one of three major organizations that manage international economic relations among governments. The other two are the International Monetary Fund, which works to improve payment arrangements and other financial dealings between countries, and the World Bank, which provides loans to poorer nation for economic development. WTO headquarters are in Geneva, Switzerland.
1) One of the two main responsibilities of the WTO is _____
A. to determine trade policies
B. to work as a neutral judge in trade disputes
C. to help members make decision in trade
D. to promote trade in goods and services among nations
2) A WTO member nation is guaranteed to ______
A. export the same good as other members
B. have their exports treated the same as other members
C. have as many restrictions as rights
D. pay the same taxes as other members
3) The word "those" in paragraph 2 refers to ______
A. goods and services
B. rights and responsibilities
C. WTO members
D. circumstances
4) The World Trade Organization covers trade in _____
A. all kinds of goods and services
B. agricultural goods
C. intellectual property
D. computer software
5) The WTO, the IMF and the WB are international organizations ______
A. that improve financial matters between countries
B. that have their headquarters in Geneva
C. that manage international economic relations between governments
D. that provide loans to poorer nations
