ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -There is a dark side to the WTO. For years, critics protested that the WTO was a way for nations to engage in trade, wars and raids on underdeveloped nations, and considered it an unnecessary and expensive layer to the natural market forces of international trade.

Detailed explanation-2: -The correct option is C Creation of monopoly power Exposure to foreign investment risks is nil or much lower in foreign trade. This is because of which of the following advantages of exporting/importing?

Detailed explanation-3: -A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.

Detailed explanation-4: -International trade allows countries to expand their markets and access goods and services that otherwise may not have been available domestically. As a result of international trade, the market is more competitive. This ultimately results in more competitive pricing and brings a cheaper product home to the consumer.