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Question
The World Trade Organisation regulates global trade by following which type of trading system?
Options
A bilateral, barter-based trading system
A regional, preferential trading system
A protectionist, quota-driven trading system
A rule-based, multilateral trading system
MCQ
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Solution
The WTO follows a rule-based, multilateral trading system, meaning common, agreed trade rules apply to all member countries rather than ad hoc bilateral arrangements. This ensures uniformity and predictability in global trade.
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