Which of the Following Statements About the World Trade Organization

question 206

Multiple Choice

Which of the following statements about the World Trade Organization (WTO) is most accurate?

• A)The World Trade Organization was formed in 2008 in response to the global recession.
• B)The 12 member countries of the WTO account for approximately 55 percent of world trade.
• C)The WTO acts as an agent in licensing negotiations between its members and the remainder of the world.
• D)The WTO uses panels of trade experts who can issue binding decisions.
• E)The WTO was formed by the United Nations.

---

Definitions:

Economic

Pertaining to the production, consumption, and transfer of wealth in a society, often analyzed in terms of economies of scale, market trends, and financial health.

Philanthropic

Related to the act of donating money, goods, services, and time to support the welfare of others or contribute to the public good, often through charities or nonprofit organizations.

Corporate Social Responsibility

A business model that helps a company be socially accountable—to itself, its stakeholders, and the public—by practicing sustainable business practices and ethical standards.

Social Principles

Fundamental guidelines or norms that dictate behavior within a society, often reflecting the collective ethos or values of a community.