In the context of international trade, 'Most Favoured Nation' (MFN) treatment means: MCQ with Answer and Explanation

Question

Share Report Error

In the context of international trade, 'Most Favoured Nation' (MFN) treatment means:

A. Higher tariffs for all countries

B. Equal trade treatment to all member countries

C. Preferential treatment to one country only

D. Ban on imports from certain countries

Answer: Option B

Solution (By JKSSB Mock Tests)

MFN principle under WTO requires that any advantage granted to one member country must be extended to all other members, ensuring non-discrimination.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'Goods and Services Tax' on private coaching centres is:

A. 18%

B. 12%

C. 0%

D. 5%

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
Private coaching centres attract 18% GST.

This question belongs to: Economy GK Economy Set 1

Question #2

The 'Pradhan Mantri Shram Yogi Maandhan' is a pension scheme for unorganized workers with monthly contribution of:

A. Rs 55 to Rs 200

B. Rs 50 to Rs 100

C. Rs 100 to Rs 500

D. Rs 200 to Rs 1,000

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option A

Explanation:
PM-SYM contribution ranges from Rs 55 to Rs 200 depending on age.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Bank of England' is the central bank of:

A. Germany

B. United Kingdom

C. France

D. Canada

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option B

Explanation:
The Bank of England is the central bank of the United Kingdom.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs