WTO is a ________Select one:a.Permanent Institutionb.Multilateral Agreementc.Multilateral Agreementd.Provisional Institution
Question
WTO is a ________
Select one:
- a. Permanent Institution
- b. Multilateral Agreement
- c. Multilateral Agreement
- d. Provisional Institution
Solution
The World Trade Organization (WTO) is best described as a Permanent Institution.
Detailed Explanation:
-
Permanent Institution: The WTO is established to regulate international trade and is a permanent body that continues to operate as long as its member countries abide by its rules.
-
Multilateral Agreement: While the WTO facilitates a set of multilateral trade agreements among nations, it is not just an agreement itself but an institution that promotes and enforces these agreements.
-
Provisional Institution: This is incorrect as the WTO is not temporary; it has been established since 1995.
Therefore, the correct answer is a. Permanent Institution.
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