The correct answer is C. Both (a) and (b).
The World Trade Organization (WTO) is an international organization that deals with the rules of trade between nations. It was established in 1995 and has 164 member countries. The WTO’s main functions are to:
- Administer the rules of trade agreed by its members
- Settle trade disputes between members
- Expand trade opportunities for its members
- Provide a forum for trade negotiations
The WTO’s rules are based on the principle of free trade. This means that countries should not impose tariffs or other restrictions on goods and services that are traded between them. The WTO also promotes the principle of non-discrimination. This means that countries should treat all other countries equally when it comes to trade.
The WTO has a number of dispute settlement procedures that can be used by countries to resolve trade disputes. These procedures are designed to be fair and impartial. The WTO also provides a forum for trade negotiations. These negotiations can lead to new agreements that reduce tariffs and other trade barriers.
The WTO has been successful in promoting free trade and expanding trade opportunities for its members. However, it has also been criticized for being too bureaucratic and for not doing enough to help developing countries.
Option A is correct because the WTO does settle trade disputes between nations. The WTO’s dispute settlement procedures are designed to be fair and impartial.
Option B is also correct because the WTO does widen the principal of free trade to sectors such as services and agriculture. The WTO’s agreements cover a wide range of goods and services, including agriculture, textiles, and telecommunications.
Option C is the correct answer because it includes both Option A and Option B.