Which of the following best describes the primary purpose of the General Agreement on Tariffs and Trade (GATT)?
A)to create intellectual property regulations
B)to encourage worldwide trade
C)to ensure that every nation receives its fair share of any revenues generated from international trade and tariffs
D)to prevent wars based on trade issues

Question

Quizplus · Accepted Answer

The primary purpose of GATT was to encourage worldwide trade by reducing barriers and tariffs between member nations, thus facilitating economic growth and development.

Note: While preventing wars based on trade issues may have been a secondary benefit of GATT, it was not its primary purpose. Similarly, ensuring fair revenue sharing was not a goal of GATT. GATT focused on promoting and regulating international trade.

Which of the Following Best Describes the Primary Purpose of the General