Economics · International Trade Organizations
What is the primary underlying characteristic and mandate of the World Trade Organization (WTO)?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It resolves political boundary disputes among regional economic blocs.
- 2It acts primarily as a financial aid agency for less developed countries.
- 3It acts as an umbrella institution that regulates agreements concluded in the Uruguay Round to promote free international trade.✓
- 4It facilitates broad political-economic cooperation among developing countries.
Correct answer
It acts as an umbrella institution that regulates agreements concluded in the Uruguay Round to promote free international trade.
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