Indian Economy MCQs

Q.  Which of the following is / are correct statements regarding World Trade Organisation (WTO)?
1: Member countries exercise voting rights as per their size of economy
2: General Council is the topmost decision-making body of the WTO
3: Council for TRIPS operates under Ministerial Conference
Select the correct option from the codes given below:


a. Only 1 & 2
b. Only 2 & 3
c. Only 3
d. None


ANSWER: See Answer
 
First statement is incorrect because member states have equal voting rights irrespective of their size of economy. Second statement is incorrect because the topmost decision-making body of the WTO is the Ministerial Conference, which usually meets every two years. Third statement is incorrect because Council for TRIPS operates under the general guidance of the General Council and not of Ministerial Conference.
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