Question

WTO was established in the year 1948.

Options

• True

• False

• Can’t say

• None of these

Answer 1

False

Explanation:

The WTO was set up in 1995 (under the Marrakesh Agreement) to replace and expand the earlier General Agreement on Tariffs and Trade, which began in 1948. Thus, the WTO was established in 1995, so 1948 refers to GATT, not the WTO.