NCERT · Class 11 · Economics · Liberalisation, Privatisation and GlobalisationWhich of the following international organisations was established in 1995 as a successor to GATT?
Step-by-Step Solution
The World Trade Organisation (WTO) was established in 1995 as the successor organization to the General Agreement on Tariffs and Trade (GATT).
Detailed Options Breakdown
Option : International Monetary Fund (IMF)
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Liberalisation, Privatisation and Globalisation.
Option 1: World Bank
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Liberalisation, Privatisation and Globalisation.
Option 2: World Trade Organisation (WTO) (Correct Answer)
Correct choice. Refer to the step-by-step verified solution guidelines above for details.
Option 3: Reserve Bank of India (RBI)
Incorrect choice. This distractor represents a common misunderstanding of the core principles of Liberalisation, Privatisation and Globalisation.
💡 Study Guide: This question tests core syllabus concepts from Liberalisation, Privatisation and Globalisation. For formulas, key summaries, and mock exam reference guides, read the full Liberalisation, Privatisation and Globalisation Revision Notes.