General Knowledge MCQs
Topic Notes: General Knowledge
MCQs and preparation resources for competitive exams, covering important concepts, past papers, and detailed explanations.
Plato
- Biography: Ancient Greek philosopher (427–347 BCE), student of Socrates and teacher of Aristotle, founder of the Academy in Athens.
- Important Ideas:
- Theory of Forms
- Philosopher-King
- Ideal State
1
The WTO has observer status at which other major international economic forum?
Answer:
The UN General Assembly (as a specialized agency)
The WTO is not a specialized agency of the UN, but it has a cooperative relationship with the UN and maintains observer status at the General Assembly and ECOSOC.
2
The WTO system encourages the reduction of trade barriers primarily through which method?
Answer:
Multilateral negotiations and binding tariff concessions.
The heart of the system is the reciprocal lowering of trade barriers through negotiations involving all members.
3
What is the legal status of the agreements that countries have signed under the WTO?
Answer:
Binding legal commitments (covered agreements).
WTO agreements are contracts that guarantee members significant trade rights and obligations.
4
The **SPS Agreement** (Agreement on the Application of Sanitary and Phytosanitary Measures) allows countries to restrict trade to protect:
Answer:
Human, animal, and plant life or health from risks arising from food, pests, and diseases.
The SPS Agreement sets rules for food safety and animal/plant health standards, ensuring they are scientifically justified and not disguised protectionism.
5
The WTO's relationship with the IMF and the World Bank is one of:
Answer:
Cooperation, as the three institutions govern global economic policy.
The WTO, IMF, and World Bank form the core institutional triumvirate governing international economic relations.
6
The WTO **Trade Facilitation Agreement (TFA)** focuses primarily on:
Answer:
Simplifying and streamlining international customs and border procedures.
The TFA aims to cut bureaucracy and reduce 'behind-the-border' costs, making it easier and faster to trade.
7
The **Trade Policy Review Mechanism (TPRM)** requires WTO members to periodically review their national trade policies. What is the goal of this review?
Answer:
To encourage transparency and understanding of a member's trade policies and practices.
The TPRM is non-confrontational and aims to promote compliance and dialogue.
8
The WTO’s current negotiating round, launched in 2001 and focused on addressing the needs of developing countries, is known as the:
Answer:
The Doha Development Agenda (DDA)
The DDA remains officially on the table, although progress has been challenging.
9
The **Agreement on Agriculture** mainly focuses on reducing distortions in world trade caused by which three areas of government support?
Answer:
Market Access, Domestic Support, and Export Subsidies.
These three pillars were the focus of liberalization commitments in the Uruguay Round for agricultural trade.
10
The WTO's agreements allow for **Special and Differential Treatment (S&D)** for developing countries. This generally provides for:
Answer:
More flexibility in implementing agreements and longer transition periods.
S&D treatment aims to ensure developing countries can participate effectively in the multilateral trading system.