Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal NCERT Solutions | Why is it necessary to became a member o
Why is it necessary to became a member of WTO?
It is important for any country to become a member of WTO (World Trade Organisation) for the following reasons:
i) WTO provides equal opportunities to all its member countries to trade in the international market.
ii) It provides its member countries with larger scope to produce at large scale to cater to the needs of people across the international boundaries. This provides ample scope to utilise world resources optimally and provides greater market accessibility.
iii) It advocates for the removal of tariff and non-tariff barriers, thereby, promoting healthier and fairer competition among different producers of different countries.
iv) The countries of similar economic conditions being members of WTO can raise their voice to safeguard their common interests.
More Questions From Class 11 Economics - Indian Economic Development - Chapter Liberalisation, Privatisation and Globalisation: An Appraisal
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How is RBI controlling the commercial banks?
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Distinguish between the following
(i) Strategic and Minority sale
(ii) Bilateral and Multi-lateral trade
(iii) Tariff and Non-tariff barriers. - Q:-
Agriculture sector appears to be adversely affected by the reform process. Why?
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Why were reforms introduced in India?
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Those public sector undertakings which are making profits should be privatised. Do you agree with this view? Why?
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Do you think outsourcing is good for India? Why are developed countries opposing it?
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Why did RBI have to change its role from controller to facilitator of financial sector in India?
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Do you think the navaratna policy of the government helps in improving the performance of public sector undertakings in India? How?
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What do you understand by devaluation of rupee?
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Why are tariffs imposed?
Popular Questions of Class 11 Economics - Indian Economic Development
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What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies?
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What do you mean by rural development? Bring out the key issues in rural development.
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Define a plan?
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Explain the term ‘infrastructure’.
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Name some notable economists who estimated India’s per capita income during the colonial period?
Recently Viewed Questions of Class 11 Economics - Indian Economic Development
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Trace the relationship between human capital and economic growth.
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