Market Integration and Free Trade
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Questions and Answers

What is the primary goal of the World Trade Organization (WTO)?

  • To promote social and economic progress in the Asian and Pacific region
  • To cater to the needs of smaller or under-developed countries
  • To ensure that trade takes place smoothly, predictably, and as freely as possible (correct)
  • To leverage the growing interdependence of the Asia-Pacific region

Which institution was established in 1966 by 31 member governments?

  • Asian Development Bank (ADB) (correct)
  • World Trade Organization (WTO)
  • Asia-Pacific Economic Cooperation (APEC)
  • International Monetary Fund (IMF)

What is the main focus of the Asian Development Bank (ADB)?

  • To cater to the needs of smaller or under-developed countries
  • To facilitate international trade and commerce
  • To provide loans for regional, sub-regional, and national projects and programs (correct)
  • To promote regional economic integration

How many members does the Asian Development Bank (ADB) have?

<p>57 (C)</p> Signup and view all the answers

When was the Asia-Pacific Economic Cooperation (APEC) set up?

<p>1989 (B)</p> Signup and view all the answers

How many members does the Asia-Pacific Economic Cooperation (APEC) have?

<p>21 (A)</p> Signup and view all the answers

What is the primary goal of the Asia-Pacific Economic Cooperation (APEC)?

<p>To create greater prosperity for the people of the region (B)</p> Signup and view all the answers

What is the focus of the World Trade Organization (WTO) agreements?

<p>Rules of trade between nations (A)</p> Signup and view all the answers

Which institution is responsible for promoting regional economic integration?

<p>Asia-Pacific Economic Cooperation (APEC) (C)</p> Signup and view all the answers

What is the focus of the Asian Development Bank (ADB) loan programs?

<p>Regional, sub-regional, and national projects and programs (C)</p> Signup and view all the answers

What is the primary role of the World Trade Organization (WTO)?

<p>To ensure that trade takes place smoothly, predictably, and as freely as possible (B)</p> Signup and view all the answers

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