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UPSC 1996: Which of the following were the aims behind the setting up of the World Trade Organization (WTO)? I. Promotion of free trade and resource flows across countries. II. Protection of intellectual property rights. III. Managing balanced trade between different countries. IV. Promotion of trade between the former East Bloc countries and the western world. Select the correct answer by using the codes given below:
(a)I, II, III and IV
(b)I and II
(c)II and III
(d)I and IV
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Not attemptedCorrect Answer: (b) I and II
The Marrakesh Agreement (1994) establishing the WTO lists two central objectives: (1) raising standards of living through the reduction of trade barriers and freer flow of resources (free trade), and (2) a framework to protect and enforce intellectual-property rights (the TRIPS Agreement). Balanced-trade management or special East-West promotion were not WTO aims. Therefore only statements I and II are correct and option (b) is the right choice. ([edurev.in](https://edurev.in/t/203123/World-Panorama-Solved-Questions--1995-2020--1))
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Frequently Asked Questions
What is the correct answer to this UPSC 1996 Indian Economy question?▼
The correct answer is option (b): I and II. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this International Trade & WTO question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1996, GS Paper 1, as Question 40. It falls under Indian Economy > International Trade & WTO.
What is the difficulty level of this UPSC question?▼
This question is rated "moderate". It requires sound conceptual understanding of the topic.
How many UPSC Prelims questions have been asked from International Trade & WTO?▼
UPSC has asked 38 questions from International Trade & WTO (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.