Which of the following statements about the World Trade Organization (WTO) is most accurate?
A)The World Trade organization is a temporary group that meets on an as needed basis.
B)The 153 member countries of the WTO account for approximately 55% of world trade.
C)The WTO sets rules governing trade between its members and the remainder of the world.
D)The WTO uses panels of trade experts who can issue binding decisions.
E)The WTO was formed by the United Nations.

Question

Quizplus · Accepted Answer

The statement that the WTO uses panels of trade experts who can issue binding decisions is the most accurate. While the WTO has 164 member countries (as of 2021), not 153 as in option B, this statement is the only one that accurately reflects the role and function of the organization. The WTO is a permanent organization that sets rules governing trade between its members and facilitates negotiations on trade agreements, with panels of experts who can issue binding decisions in case of disputes between members.

Which of the Following Statements About the World Trade Organization