{"id":32377,"date":"2024-12-12T07:24:53","date_gmt":"2024-12-12T01:54:53","guid":{"rendered":"https:\/\/samacheerkalvi.guide\/?p=32377"},"modified":"2024-12-13T09:53:59","modified_gmt":"2024-12-13T04:23:59","slug":"samacheer-kalvi-12th-economics-guide-chapter-8","status":"publish","type":"post","link":"https:\/\/samacheerkalvi.guide\/samacheer-kalvi-12th-economics-guide-chapter-8\/","title":{"rendered":"Samacheer Kalvi 12th Economics Guide Chapter 8 International Economic Organisations"},"content":{"rendered":"

Tamilnadu State Board New Syllabus Samacheer Kalvi 12th Economics Guide<\/a> Pdf Chapter 8 International Economic Organisations Text Book Back Questions and Answers, Notes.<\/p>\n

Tamilnadu Samacheer Kalvi 12th Economics Solutions Chapter 8 International Economic Organisations<\/h2>\n

12th Economics Guide International Economic Organisations Text Book Back Questions and Answers<\/h3>\n

PART – A<\/span><\/p>\n

Multiple Choice questions<\/span><\/p>\n

Question 1.
\nInternational Monetary Fund was an outcome of
\na) Pandung conference
\nb) Dunkel Draft
\nc) Bretton woods conference
\nd) Doha conference
\nAnswer:
\nc) Bretton woods conference<\/p>\n

Question 2.
\nInternational Monetary Fund is having its headquarters at
\na) Washington D. C.
\nb) Newyork
\nc) Vienna
\nd) Geneva
\nAnswer:
\na) Washington D. C.<\/p>\n

\"Samacheer<\/p>\n

Question 3.
\nIBRD is otherwise called
\na) IMF
\nb) World bank
\nc) ASEAN
\nd) International Finance corporation
\nAnswer:
\nb) World bank<\/p>\n

Question 4.
\nThe other name for Special Drawing Right is
\na) Paper gold
\nb) Quotas
\nc) Voluntary Export Restrictions
\nd) None of these.
\nAnswer:
\na) Paper gold<\/p>\n

\"Samacheer<\/p>\n

Question 5.
\nThe organization which provides long term loan is
\na) World Bank
\nb) International Monetary Fund
\nc) World Trade Organization
\nd) BRICS
\nAnswer:
\na) World Bank<\/p>\n

Question 6.
\nWhich of the following countries is not a member of SAARC?
\na) Sri Lanka
\nb) Japan
\nc) Bangladesh
\nd) Afghanistan
\nAnswer:
\nb) Japan<\/p>\n

\"Samacheer<\/p>\n

Question 7.
\nInternational Development Association is an affiliate of
\na) IMF
\nb) World Bank
\nc) SAARC
\nd) ASEAN
\nAnswer:
\nb) World Bank<\/p>\n

Question 8.
\n………………………….. relates to patents, copyrights, trade secrets, etc.,
\na) TRIPS
\nb) TRIMS
\nc) GATS
\nd) NAMA
\nAnswer:
\na) TRIPS<\/p>\n

\"Samacheer<\/p>\n

Question 9.
\nThe first ministerial meeting of WTO was held at
\na) Singapore
\nb) Geneva
\nc) Seattle
\nd) Doha
\nAnswer:
\na) Singapore<\/p>\n

Question 10.
\nASEAN meetings are held once in every ……………….. years
\na) 2
\nb) 3
\nc) 4
\nd) 5
\nAnswer:
\nb) 3<\/p>\n

\"Samacheer<\/p>\n

Question 11.
\nWhich of the following is not member of SAARC?
\na) Pakistan
\nb) Sri lanka
\nc) Bhutan
\nd) China
\nAnswer:
\nd) China<\/p>\n

Question 12.
\nSAARC meets once in ……………………………. years.
\na) 2
\nb) 3
\nc) 4
\nd) 5
\nAnswer:
\na) 2<\/p>\n

\"Samacheer<\/p>\n

Question 13.
\nThe headquarters of ASEAN is
\na) Jaharta
\nb) New Delhi
\nc) Colombo
\nd) Tokyo
\nAnswer:
\na) Jaharta<\/p>\n

Question 14.
\nThe term RRIC was coined in
\na) 2001
\nb) 2005
\nc) 2008
\nd) 2010
\nAnswer:
\na) 2001<\/p>\n

\"Samacheer<\/p>\n

Question 15.
\nASEAN was created in
\na) 1965
\nb) 1967
\nc) 1972
\nd) 1997
\nAnswer:
\nb) 1967<\/p>\n

Question 16.
\nThe Tenth BRICS summit was held in July 2018 at
\na) Beijing
\nb) Moscow
\nc) Johannesburg
\nd) Brasilia
\nAnswer:
\nc) Johannesburg<\/p>\n

\"Samacheer<\/p>\n

Question 17.
\nNew Development Bank is associated with.
\na) BRICS
\nb) WTO
\nc) SAARC
\nd) ASEAN
\nAnswer:
\na) BRICS<\/p>\n

Question 18.
\nWhich of the following does not come under ‘ six dialogue partners’ of ASEAN? .
\na) China
\nb) Japan
\nc) India
\nd) North Korea
\nAnswer:
\nd) North Korea<\/p>\n

\"Samacheer<\/p>\n

Question 19.
\nSAARC Agricultural Information centre ( SAIC ) works as a central informa\u00action institution for agriculture related resources was founded on.
\na) 1985
\nb) 1988
\nc) 1992
\nd) 1998
\nAnswer:
\nb) 1988<\/p>\n

Question 20.
\nBENELUX is a form of
\na) Free trade area
\nb) Economic Union
\nc) Common market
\nd) Customs union
\nAnswer:
\nd) Customs union<\/p>\n

\"Samacheer<\/p>\n

PART-B<\/span><\/p>\n

Answer the following questions in one or two sentences.<\/span><\/p>\n

Question 21.
\nWrite the meaning of Special Drawing Rights.
\nAnswer:<\/p>\n

    \n
  1. The Fund has succeeded in establishing a scheme of Special Drawing Rights (SDRs) which is otherwise called \u2018Paper Gold\u2019.<\/li>\n
  2. They are a form of international reserves created by the IMF in 1969 to solve the problem of international liquidity.<\/li>\n
  3. They are allocated to the IMF members in proportion to their Fund quotas.<\/li>\n
  4. SDRs are used as a means of payment by Fund members to meet the balance of payments deficits and their total reserve position with the Fund.<\/li>\n
  5. Thus SDRs act both as an international unit of account and a means of payment.<\/li>\n
  6. All transactions by the Fund in the form of loans and their repayments, its liquid reserves, its capital, etc., are expressed in the SDR.<\/li>\n<\/ol>\n

    Question 22.
    \nMention any two objectives of ASEAN.
    \nAnswer:<\/p>\n

      \n
    1. To accelerate the economic growth, social progress, and cultural development in the region.<\/li>\n
    2. To promote regional peace and stability and adherence to the principles of the United Nations charter.<\/li>\n<\/ol>\n

      \"Samacheer<\/p>\n

      Question 23.
      \nPoint out any two ways in which IBRD lends to member countries.
      \nAnswer:
      \nThe Bank advances loans to members in two ways<\/p>\n

        \n
      1. Loans out of its own fund,<\/li>\n
      2. Loans out of borrowed capital.<\/li>\n<\/ol>\n

        Question 24.
        \nDefine common Market.
        \nAnswer:
        \nCommon market is a group formed by countries with in a geographical area to promote duty free trade and free movement of labour and capital among its members.<\/p>\n

        \"Samacheer<\/p>\n

        Question 25.
        \nWhat is Free trade area?
        \nAnswer:
        \nFree trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement.<\/p>\n

        Question 26.
        \nWhen and where was SAARC secretariat established?
        \nAnswer:
        \nSouth Asian Association For Regional Co-Operation (SAARC):
        \n1. The South Asian Association for Regional Cooperation (SAARC) is an organisation of South Asian nations, which was established on 8 December 1985 for the promotion of economic and social progress, cultural development within the South Asia region, and also for friendship and cooperation with other developing countries.<\/p>\n

        2. The SAARC Group (SAARC) comprises of Bangladesh, Bhutan, India, The Maldives, Nepal, Pakistan and Sri Lanka.<\/p>\n

        3. In April 2007, Afghanistan became its eighth member.<\/p>\n

        Question 27.
        \nSpecify any two affiliates of world Bank Group. (Write any 2)
        \nAnswer:<\/p>\n

          \n
        1. International Bank for Reconstruction and Development (IBRD)<\/li>\n
        2. International Development Association (IDA)<\/li>\n
        3. International Finance corporation (IFC)<\/li>\n
        4. Multilateral Investment Guarantee Agency (MIGA)<\/li>\n
        5. The International centre for settlement of Investment Disputes (ICSID)<\/li>\n<\/ol>\n

          PART – C<\/span><\/p>\n

          Answer the following questions in one paragraph.<\/span><\/p>\n

          Question 28.
          \nMention the various forms of economic integration.
          \nAnswer:
          \nEconomic integration takes the form of<\/p>\n

            \n
          • A free Trade Area: It is the region encompassing a trade bloc whose member countries have signed a free trade agreement.<\/li>\n
          • A customs union: It is defined as a type of trade bloc which is composed of a free trade area with no tariff among members and with a common external tariff.<\/li>\n
          • Common market: It is established through trade pacts. A group formed by coun-tries within a geographical area to promote duty-free trade and free movement of labour and capital among its members.<\/li>\n
          • An economic union: It is composed of a common market with a customs union.<\/li>\n<\/ul>\n

            Question 29.
            \nWhat are trade blocks?
            \nAnswer:
            \n1. Trade blocks cover different kinds of arrangements between or among countries for mutual benefit. Economic integration takes the form of Free Trade Area, Customs Union, Common Market and Economic Union.<\/p>\n

            2. A free trade area is the region encompassing a trade bloc whose member countries have signed a free-trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, e.g. SAFTA, EFTA.<\/p>\n

            3. A customs union is defined as a type of trade block which is composed of a free trade area with no tariff among members and (zero tariffs among members) with a common external tariff, e.g. BENELUX (Belgium, Netherland and Luxumbuarg).<\/p>\n

            4. Common market is established through trade pacts. A group formed by countries within a geographical area to promote duty free trade and free movement of labour and capital among its members, e.g. European Common Market (ECM).<\/p>\n

            5. An economic union is composed of a common market with a customs union. The participant countries have both common policies on product regulation, freedom of movement of goods, services and the factors of production and a common external trade policy. (e.g. European Economic Union).<\/p>\n

            Question 30.
            \nMention any three lending programmes of IMF.
            \nAnswer:
            \nThe Fund has created several new credit facilities for its members.<\/p>\n

            1. Extended Fund Facility:
            \nUnder this arrangement, the IMF provides additional borrowing facility up to 140% of the member’s quota, over and above the basic credit facility. The extended facility is limited for a period up to 3 years and the rate of interest is low.<\/p>\n

            2. Buffer Stock Facility:
            \nThe Buffer stock financing facility was started in 1969. The purpose of this scheme was to help the primary goods producing countries to finance contributions to buffer stock arrangements for the establisation of primary product prices.<\/p>\n

            3. Supplementary Financing Facility :
            \nUnder the supplementary financing facility, the IMF makes temporary arrange-ments to provide supplementary financial assistance to member countries facing payments problems relating to their present quota sizes.<\/p>\n

            \"Samacheer<\/p>\n

            Question 31.
            \nWhat is a Multilateral Agreement?
            \nAnswer:
            \nMultilateral trade agreement:
            \nIt is a multinational legal or trade agreements between countries. It is an agreement between more than two countries but not many. The various agreements implemented by the WTO such as TRIPS, TRIMS, GATS, AoA, MFA have been discussed.<\/p>\n

            Question 32.
            \nWrite the agenda of BRICS summit, 2018.
            \nAnswer:
            \nSouth Africa hosted the 10th BRICS summit in July 2018. The agenda for the BRICS summit 2018 includes Inclusive growth, Trade issues, Global governance, shared prosperity, International peace, and security.<\/p>\n

            Question 33.
            \nState briefly the functions of SAARC.
            \nAnswer:
            \nThe main functions of SAARC are as follows.<\/p>\n

              \n
            1. Maintenance of the cooperation in the region<\/li>\n
            2. Prevention of common problems associated with the member nations.<\/li>\n
            3. Ensuring strong relationships among the member nations.<\/li>\n
            4. Removal of poverty through various packages of programmes.<\/li>\n
            5. Prevention of terrorism in the region.<\/li>\n<\/ol>\n

              \"Samacheer<\/p>\n

              Question 34.
              \nList but the achievements of ASEAN.
              \nAnswer:<\/p>\n

                \n
              • The main achievement of ASEAN has been the maintenance of an uninterrupted period of peace and stability during which the individual member countries have been able to concentrate on promoting rapid and sustained economic growth and modernization.<\/li>\n
              • ASEAN’S modernization efforts have brought about changes in the region’s structure of production.<\/li>\n
              • ASEAN has been the fourth largest trading entity in the world after the European Union the United States and Japan.<\/li>\n<\/ul>\n

                PART – D<\/span><\/p>\n

                Answer the following questions in about a page.<\/span><\/p>\n

                Question 35.
                \nExplain the objectives of IMF.
                \nAnswer:
                \nObjectives Of IMF:<\/p>\n

                  \n
                1. To promote international monetary cooperation among the member nations.<\/li>\n
                2. To facilitate faster and balanced growth of international trade.<\/li>\n
                3. To ensure exchange rate stability by curbing competitive exchange depreciation.<\/li>\n
                4. To eliminate or reduce exchange controls imposed by member nations.<\/li>\n
                5. To establish multilateral trade and payment system in respect of current transactions instead of bilateral trade agreements.<\/li>\n
                6. To promote the flow of capital from developed to developing nations.<\/li>\n
                7. To solve the problem of international liquidity.<\/li>\n<\/ol>\n

                  Question 36.
                  \nBring out the functions of the World Bank.
                  \nAnswer:
                  \nInvestment for productive purposes :
                  \nThe world Bank performs the function of assisting in the reconstruction and development of territories of member nations through the facility of investment for productive purposes.<\/p>\n

                  Balance growth of international trade :
                  \nPromoting the long-range balanced growth of trade at the international level and maintaining equilibrium in BOPS of member nations by encouraging international investment.<\/p>\n

                  Provision of loans and guarantees :
                  \nArranging the loans or providing guarantees on loans by various other channels so as to execute important projects.<\/p>\n

                  Promotion of foreign private investment:
                  \nThe promotion of private foreign investment by means of guarantees on loans and other investments made by private investors. The Bank supplements private investment by providing finance for productive purposes out of its own resources or from borrowed funds.<\/p>\n

                  Technical services:
                  \nThe world Bank facilitates different kinds of technical services to the member countries through staff college and exports.<\/p>\n

                  \"Samacheer<\/p>\n

                  Question 37.
                  \nDiscuss the role of WTO in India’s socio-economic development.
                  \nAnswer:
                  \nWTO and India:
                  \nIndia is the founding member of the WTO. India favours a multilateral trade approach. It enjoys MFN status and allows the same status to all other trading partners. India benefited
                  \nfrom WTO on the following grounds:<\/p>\n

                    \n
                  1. By reducing tariff rates on raw materials, components and capital goods, it was able to import more for meeting her developmental requirements. India\u2019s imports go on increasing.<\/li>\n
                  2. India gets market access in several countries without any bilateral trade agreements.<\/li>\n
                  3. Advanced technology has been obtained at cheaper cost.<\/li>\n
                  4. India is in a better position to get quick redressal from trade disputes.<\/li>\n
                  5. The Indian exporters benefited from wider market information.<\/li>\n<\/ol>\n

                    Question 38.
                    \nWrite a note on a) SAARC b) BRICS
                    \nAnswer:
                    \n(a) South Asian Association For Regional Co-Operation (SAARC):<\/p>\n

                      \n
                    • The South Asian Association for Regional Cooperation (SAARC) is an organisation of South Asian nations, which was established on 8 December 1985 for the promotion of economic and social progress, cultural development within the South Asia region, and also for friendship and co-operation with other developing countries.<\/li>\n
                    • The SAARC Group (SAARC) comprises Bangladesh, Bhutan, India, The Maldives, Nepal, Pakistan, and Sri Lanka.<\/li>\n
                    • In April 2007, Afghanistan became its eighth member.<\/li>\n
                    • The basic aim of the organisation is to accelerate the process of economic and social development of member states through joint action in the agreed areas of cooperation.<\/li>\n
                    • The SAARC Secretariat was established in Kathmandu (Nepal) on 16th January 1987.<\/li>\n
                    • The first SAARC summit was held in Dhaka in the year 1985.<\/li>\n
                    • SAARC meets once in two years. Recently, the 20th SAARC summit was hosted by Srilanka in 2018.<\/li>\n<\/ul>\n

                      (b) BRICS:<\/p>\n

                        \n
                      • BRICS is the acronym for an association of five major emerging national economies: Brazil, Russia, India, China and South Africa.<\/li>\n
                      • Since 2009, the BRICS nations have met annually at formal summits.<\/li>\n
                      • South Africa hosted the 10th BRICS summit in July 2018.<\/li>\n
                      • The agenda for the BRICS summit 2018 includes Inclusive growth, Trade issues, Global governance, Shared Prosperity, International peace, and security.<\/li>\n
                      • Its headquarters is in Shanghai, China.<\/li>\n
                      • The New Development Bank (NDB) formerly referred to as the BRICS Development Bank was established by the BRICS States.<\/li>\n
                      • The first BRICS summit was held in Moscow and South Africa hosted the Tenth Conference at Johanesberg in July 2018.<\/li>\n
                      • India had an opportunity of hosting the fourth and Eighth summits in 2009 and 2016 respectively.<\/li>\n
                      • The BRICS countries make up 21 percent of the global GDP. They have increased their share of global GDP threefold in the past 15 years.<\/li>\n
                      • The BRICS are home to 43 percent of the world\u2019s population.<\/li>\n
                      • The BRICS countries have combined foreign reserves of an estimated $ 4.4 trillion.<\/li>\n<\/ul>\n

                        \"Samacheer<\/p>\n

                        12th Economics Guide International Economics Organisations Additional Important Questions and Answers<\/h3>\n

                        I. Choose the best Answer<\/span><\/p>\n

                        Question 1.
                        \nThe IMF has ……………………. member countries with Republic.
                        \n(a) 169
                        \n(b) 179
                        \n(c) 189
                        \n(d) 199
                        \nAnswer:
                        \n(c) 189<\/p>\n

                        Question 2.
                        \nThe IMF and World Bank were started in ………
                        \na) 1947
                        \nb) 1951
                        \nc) 1945
                        \nd) 1954
                        \nAnswer:
                        \nc) 1945<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \nAt present, the IMF has ………….member countries.
                        \na) 198
                        \nb) 189
                        \nc) 179
                        \nd) 197
                        \nAnswer:
                        \nb) 189<\/p>\n

                        Question 4.
                        \nInternational Monetary Fund headquarters are present in …………………….
                        \n(a) Geneva
                        \n(b) Washington DC
                        \n(c) England
                        \n(d) China
                        \nAnswer:
                        \n(b) Washington DC<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 5.
                        \nSDR stands for ………………
                        \na) IMF
                        \nb) IBRD
                        \nc) Special Drawing Rights
                        \nd) World Trade Organization
                        \nAnswer:
                        \nc) Special Drawing Rights<\/p>\n

                        Question 6.
                        \nSDR was created on ………………….
                        \na) 1950
                        \nb) 1951
                        \nc) 1969
                        \nd) 1967
                        \nAnswer:
                        \nc) 1969<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 7.
                        \nThe name “International Bank for Reconstruction and Development” was first suggested by
                        \na) India
                        \nb) America
                        \nc) England
                        \nd) France
                        \nAnswer:
                        \na) India<\/p>\n

                        Question 8.
                        \nSpecial Drawing called …………………….
                        \n(a) Gold
                        \n(b) Metal
                        \n(c) Paper Gold
                        \n(d) Gold Paper
                        \nAnswer:
                        \n(c) Paper Gold<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 9.
                        \nThe first WTO conference was held in Singapore in …………………
                        \na) 1991
                        \nb) 1995
                        \nc) 1996
                        \nd) 1999
                        \nAnswer:
                        \nc) 1996<\/p>\n

                        Question 10.
                        \nIt was planned to organize 12 th ministerial conference at ………………
                        \na) Pakistan
                        \nb) Kazakhstan
                        \nc) Afghanistan
                        \nd) Washington
                        \nAnswer:
                        \nb) Kazakhstan<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 11.
                        \nIBRD otherwise called the …………………….
                        \n(a) IMF
                        \n(b) SDR
                        \n(c) SAF
                        \n(d) World Bank
                        \nAnswer:
                        \n(d) World Bank<\/p>\n

                        Question 12.
                        \nBRICS was established in …………….
                        \na) 1985
                        \nb) 2001
                        \nc) 1967
                        \nd)1951
                        \nAnswer:
                        \nb) 2001<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 13.
                        \nThe BRICS are home to …………………. percent of the world’s population.
                        \na) 45
                        \nb) 43
                        \nc) 44
                        \nd) 21
                        \nAnswer:
                        \nb) 43<\/p>\n

                        Question 14.
                        \nThe headquarters of SAARC is at ………………
                        \na) Jakarta
                        \nb) Shangai
                        \nc) Washington
                        \nd) Kathmandu
                        \nAnswer:
                        \nd) Kathmandu<\/p>\n

                        Question 15.
                        \nThe IBRD has ……………………. member countries.
                        \n(a) 159
                        \n(b) 169
                        \n(c) 179
                        \n(d) 189
                        \nAnswer:
                        \n(d) 189<\/p>\n

                        Question 16.
                        \n……………………. governed the world trade in textiles and garments since 1974.
                        \n(a) GATS
                        \n(b) GATT
                        \n(c) MFA
                        \n(d) TRIPS
                        \nAnswer:
                        \n(c) MFA<\/p>\n

                        Question 17.
                        \nAgriculture was included for the first time under …………………….
                        \n(a) GATS
                        \n(b) GATT
                        \n(c) MFA
                        \n(d) TRIMs
                        \nAnswer:
                        \n(b) GATT<\/p>\n

                        \"Samacheer<\/p>\n

                        II. Match the Following<\/span><\/p>\n

                        Question 1.
                        \nA) Bretton woods conference – 1) 1945
                        \nB) World Trade Organisation – 2) 1944
                        \nC) International Monetary F\u00fcnd – 3)1930
                        \nD) Great Economic Depression – 4)1995
                        \n\"Samacheer
                        \nAnswer:
                        \na) 2 4 1 3<\/p>\n

                        Question 2.
                        \nA) SAARC – 1) Washington D.C
                        \nB) ASEAN – 2) Kathmandu
                        \nC) BRICS – 3) Jakarta
                        \nD) IMF – 4) Shangai
                        \n\"Samacheer
                        \n\"Samacheer<\/p>\n

                        Answer:
                        \nc) 2 3 4 1<\/p>\n

                        Question 3.
                        \nA) Free trade area – 1) European Economic Union
                        \nB) Customs union – 2) SAFTA
                        \nC) Common market – 3) BENELUX
                        \nD) Economic union – 4) European Common Market
                        \n\"Samacheer
                        \nAnswer:
                        \nb) 2 3 4 1<\/p>\n

                        III. Choose the correct pair :<\/span><\/p>\n

                        Question 1.
                        \na) SAARC – December 8, 1988
                        \nb) ASEAN – August 8, 1977
                        \nc) IBRD – 1944
                        \nd) BRIC – 2001
                        \nAnswer:
                        \nd) BRIC – 2001<\/p>\n

                        Question 2.
                        \na) 189th member country of IMF – Republic of Nauru
                        \nb) Structural Adjustment facility – Paper Gold
                        \nc) First Conference of WTO – 1996, Malaysia
                        \nd) TRIPS – 1998
                        \nAnswer:
                        \na) 189th member country of IMF – Republic of Nauru<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \na) SAARC preferential Trading Agreement – EFTA
                        \nb) SAARC Agricultural Information centre – SAIC
                        \nc) South Asian Development Fund – SADF
                        \nd) European Economic union – EEU
                        \nAnswer:
                        \nd) European Economic union – EEU<\/p>\n

                        IV. Choose the Incorrect Pair:<\/span><\/p>\n

                        Question 1.
                        \na) International Monetary Fund – Exchange rate stability
                        \nb) Special Drawing Rights – Paper Gold
                        \nc) Structural Adjustment Facility – Balance of payment assistance
                        \nd) Buffer stock Financing facility – 1970
                        \nAnswer:
                        \nd) Buffer stock Financing facility – 1970<\/p>\n

                        Question 2.
                        \na) International Bank for – World Bank Reconstruction and Development
                        \nb) World Bank Group – World Trade Organisation
                        \nc) India became a member of MIGA – January 1994
                        \nd) WTO – Liberalizing trade restrictions
                        \nAnswer:
                        \nb) World Bank Group – World Trade Organisation<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \na) IGA, ICSID, IDA, IFC – World. Bank Group
                        \nb) Brazil, Russia, India, China, South Africa – BRICS
                        \nc) Pakistan, Nepal, Afghanistan, Bangladesh, India, Srilanka – ASEAN
                        \nd) WTO Agreements – TRIPS, TRIMS
                        \nAnswer:
                        \nc) Pakistan, Nepal, Afghanistan, Bangladesh, India, Srilanka – ASEAN<\/p>\n

                        V. Choose the correct Statement<\/span><\/p>\n

                        Question 1.
                        \na) The IMF and World Bank were started in 1944
                        \nb) The GATT was transformed into WTO in 1995.
                        \nc) The headquarters of the World Trade Organization is in Geneva.
                        \nd) the Republic of Nauru joined IMF in 2018.
                        \nAnswer:
                        \nc) The headquarters of the World Trade organization is in Geneva.<\/p>\n

                        Question 2.
                        \na) ‘International Monetary Fund is like an International Reserve Bank’ – Milton Fried man
                        \nb) IMF established compensatory Financing Facility in 1963.
                        \nc) In December 1988 the IMF set up the Enhanced Structural Adjustment Facility (ESAF)
                        \nd) India is the sixth-largest member of the IMF.
                        \nAnswer:
                        \nb) IMF established a compensatory Financing Facility in 1963.<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \na) SDR is the Fiat Money of the IMF.
                        \nb) The membership in IMF is not a prerequisite to becoming a member of IBRD
                        \nc) India is a member of World Bank’s International center for settlement of Investment Disputes.
                        \nd) First investment of IFC in India took place in 1960.
                        \nAnswer:
                        \na) SDR is the Fiat Money of the IMF.<\/p>\n

                        VI. Choose the Incorrect Statement<\/span><\/p>\n

                        Question 1.
                        \na) The IBRD was established to provide long-term financial assistance to member countries.
                        \nb) The IBRD has 190 member countries.
                        \nc) India become a member of MIGA in January 1994.
                        \nd) India is one of the founder members of IBRD, IDA, and IFC.
                        \nAnswer:
                        \nb) The IBRD has 190 member countries.<\/p>\n

                        Question 2.
                        \na) Intellectual property rights include copyright, trademarks, patents, geographical indications, etc.
                        \nb) TRIMS are related to conditions or restrictions in respect of foreign investment in the country.
                        \nc) Phasing out of Multi Fibre Agreement (MFA) by WTO affected India.
                        \nd) It is mandatory for the Dispute Settlement Body to settle any dispute within 18 months.
                        \nAnswer:
                        \nc) Phasing out of Multi Fibre Agreement (MFA) by WTO affected India.<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \na) The SAARC group comprises Bangladesh, Bhutan, India, The Maldives, Nepal, Pakistan, and Sri Lanka.
                        \nb) An economic union is composed of a common market with a customs union.
                        \nc) Afghanistan joined SAARC on 3rd April 2007.
                        \nd) The 20th SAARC summit was held in Dhaka.
                        \nAnswer:
                        \nd) The 20th SAARC Summit was held in Dhaka.<\/p>\n

                        VII. Pick the odd one out:<\/span><\/p>\n

                        Question 1.
                        \na) Trade Association
                        \nb) Free trade Area
                        \nc) Custom union
                        \nd) Common market
                        \nAnswer:
                        \na) Trade Association<\/p>\n

                        Question 2.
                        \na) ASEAN
                        \nb) BRICS
                        \nc) SAARC
                        \nd) SDR
                        \nAnswer:
                        \nd) SDR<\/p>\n

                        \"Samacheer<\/p>\n

                        Question 3.
                        \na) IFC
                        \nb) MIGA
                        \nc) ASEAN
                        \nd) ICSID
                        \nAnswer:
                        \nc) ASEAN<\/p>\n

                        VIII. Analyse the Reason<\/span><\/p>\n

                        Question 1.
                        \nAssertion (A): The IBRD was established to provide long-term financial assistance to member countries.
                        \nReason (R): World bank helps its member countries with economic reconstruction and development.
                        \nAnswer:
                        \na) Assertion (A) and Reason (R) both are true, and (R) is the correct explanation of (A).<\/p>\n

                        Question 2.
                        \nAssertion (A): TRIPS Agreement provides for granting product patents instead of process patents.
                        \nReason (R): Intellectual property rights include copyright, trademark, patents, geographical indications, etc.
                        \nAnswer:
                        \nb) Assertion (A) and Reason (R) both are true, but (R) is not the correct explanation of (A).
                        \nOptions:
                        \na) Assertion (A) and Reason (R) both are true, and (R) is the correct explanation of (A).
                        \nb) Assertion (A) and Reason (R) both are true, but (R) is not the correct explanation of (A).
                        \nc) Assertion (A) and Reason (R) both are false.
                        \nd) (A) is true but (R) is false.<\/p>\n

                        IX. Two Mark Questions<\/span><\/p>\n

                        Question 1.
                        \nWrite IMF Functions group?
                        \nAnswer:
                        \nThe functions of the IMF are grouped under three heads.<\/p>\n

                          \n
                        1. Financial – Assistance to correct short and medium Tenn deficit in BOP;<\/li>\n
                        2. Regulatory – Code of conduct and<\/li>\n
                        3. Consultative – Counseling and technical consultancy.<\/li>\n<\/ol>\n

                          Question 2.
                          \nWhat are the major functions of WTO?
                          \nAnswer:<\/p>\n

                            \n
                          1. Administering WTO trade agreements<\/li>\n
                          2. Forum for trade negotiations<\/li>\n
                          3. Handling trade disputes<\/li>\n
                          4. Monitoring national trade policies<\/li>\n
                          5. Technical assistance and training for developing countries.<\/li>\n<\/ol>\n

                            \"Samacheer<\/p>\n

                            Question 3.
                            \nWrite the World bank activities of Rural areas?
                            \nAnswer:
                            \nThe bank now also takes interest in the activities of the development of rural areas such as:<\/p>\n

                              \n
                            1. Spread of education among the rural people<\/li>\n
                            2. Development of roads in rural areas and<\/li>\n
                            3. Electrification of the villages.<\/li>\n<\/ol>\n

                              Question 4.
                              \nWhat is a customs union?
                              \nAnswer:
                              \nA customs union is defined as a type of trade bloc which is composed of a free trade area with no tariff among members and with a common external tariff.<\/p>\n

                              Question 5.
                              \nDefine World Trade Organisation?
                              \nAnswer:<\/p>\n

                                \n
                              1. WTC headquarters located at New York, USA.<\/li>\n
                              2. It featured the landmark Twin Towers which was established on 4th April 1973.<\/li>\n
                              3. Later it was destroyed on 11th September 2001 by the craft attack.<\/li>\n
                              4. It brings together businesses involved in international trade from around the globe.<\/li>\n<\/ol>\n

                                Question 6.
                                \nWhat are TRIPS?
                                \nAnswer:
                                \nTrade-Related Intellectual Property Rights (TRIPs). Which include copyright, trademarks, patents, geographical indications, industrial designs, and the invention of microbial plants.<\/p>\n

                                \"Samacheer<\/p>\n

                                Question 7.
                                \nWhat are trade blocks?
                                \nAnswer:
                                \nTrade blocks are a set of countries that engage in international trade together and are usually related through a free trade agreement or other associations.<\/p>\n

                                Question 8.
                                \nWho are \u201cdialogue partners\u201d?
                                \nAnswer:
                                \nThe ASEAN, there are six \u201cdialogue partners\u201d which have been participating in its deliberations. They are China, Japan, India, South Korea, New Zealand, and Australia.<\/p>\n

                                Question 9.
                                \nIn how many constituents of the World Bank group India become a member?
                                \nAnswer:
                                \nIndia is a member of four of the five constituents of the World Bank Group.<\/p>\n

                                  \n
                                1. International Bank for Reconstruction and Development.<\/li>\n
                                2. International Development Association.<\/li>\n
                                3. International Finance Corporation.<\/li>\n
                                4. Multilateral Investments Guarantee Agency<\/li>\n<\/ol>\n

                                  Question 10.
                                  \nWhat is SDR?
                                  \nAnswer:<\/p>\n

                                    \n
                                  • SDR is the Fiat Money of the IMF.<\/li>\n
                                  • A potential claim on underlying currency Basket.<\/li>\n<\/ul>\n

                                    \"Samacheer<\/p>\n

                                    Question 11.
                                    \nWhy was the SDR created?
                                    \nAnswer:<\/p>\n

                                      \n
                                    • To be “The” World Reserve Currency<\/li>\n
                                    • Create Global Liquidity.<\/li>\n<\/ul>\n

                                      Question 12.
                                      \nHow is the SDR valued?
                                      \nAnswer:
                                      \n“The value of the SDR was initially defined as equivalent to 0.888671 grams of fine gold – which, at the time was also equivalent to one US dollar.<\/p>\n

                                      X. 3 Mark Questions<\/span><\/p>\n

                                      Question 1.
                                      \nBrief notes on India and IMF?
                                      \nAnswer:
                                      \nIndia and IMF:<\/p>\n

                                        \n
                                      1. Till 1970, India stood fifth in the Fund and it had the power to appoint a permanent Executive Director.<\/li>\n
                                      2. India has been one of the major beneficiaries of the Fund assistance.<\/li>\n
                                      3. It has been getting aid from the various Fund Agencies from time to time and has been regularly repaying its debt.<\/li>\n
                                      4. India\u2019s current quota in the IMF is SDRs (Special Drawing Rights) 5,821.5 million, making it the 13th largest quota holding country at IMF with shareholdings of 2.44%.<\/li>\n
                                      5. Besides receiving loans to meet the deficit in its balance of payments, India has benefited in certain other respects from the membership of the Fund.<\/li>\n<\/ol>\n

                                        Question 2.
                                        \nWhat are the achievements of IMF?
                                        \nAnswer:<\/p>\n

                                          \n
                                        • Establishments of monetary reserve fund :<\/li>\n
                                        • The fund has played a major role in achieving the sizeable stock of the national currencies of different countries.<\/li>\n
                                        • Monetary discipline and cooperation:<\/li>\n
                                        • To achieve this objective, it has provided assistance only to those countries which make sincere efforts to solve their problems.<\/li>\n
                                        • Special interest in the problems of UDCs.<\/li>\n
                                        • The fund has provided financial assistance to solve the balance of payment problem of UDCs.<\/li>\n<\/ul>\n

                                          \"Samacheer<\/p>\n

                                          Question 3.
                                          \nExplain the objectives of WTO?
                                          \nAnswer:<\/p>\n

                                            \n
                                          1. To ensure the reduction of tariffs and other barriers.<\/li>\n
                                          2. To eliminate discrimination in trade.<\/li>\n
                                          3. To facilitate a higher standard of living.<\/li>\n
                                          4. To facilitate optimal use of the world\u2019s resources.<\/li>\n
                                          5. To enable the LDCs to secure a fair share in the growth of international trade.<\/li>\n
                                          6. To ensure linkages between trade policies, environmental policies, and sustainable development.<\/li>\n<\/ol>\n

                                            Question 4.
                                            \nWhat are the achievements of WTO?
                                            \nAnswer:<\/p>\n

                                              \n
                                            1. The use of restrictive measures for BOP problems has declined markedly.<\/li>\n
                                            2. Services trade has been brought into the multilateral system and many countries, as in goods are opening their markets for trade and investment.<\/li>\n
                                            3. The trade policy review mechanism has created a process of continuous monitoring of trade policy developments.<\/li>\n<\/ol>\n

                                              Question 5.
                                              \nExplain the functions of WTO?
                                              \nAnswer:
                                              \nThe following are the functions of the WTO:<\/p>\n

                                                \n
                                              • It facilitates the implementation, administration, and operation of the objectives of the Agreement and of the Multilateral Trade Agreements.<\/li>\n
                                              • It provides the forum for negotiations among its members, concerning their multilateral trade relations in matters relating to the agreements.<\/li>\n
                                              • It administers the Understanding of Rules and Procedures governing the Settlement of Disputes.<\/li>\n
                                              • It cooperates with the IMF and the World Bank and its affiliated agencies with a view to achieving greater coherence in global economic policymaking.<\/li>\n<\/ul>\n

                                                \"Samacheer<\/p>\n

                                                Question 6.
                                                \nExplain the achievements of BRICs.<\/p>\n

                                                  \n
                                                • The establishment of the Contingent Reserve Arrangement (CRA) has further deepened and consolidated the partnership of its members in the economic-financial area.<\/li>\n
                                                • A New Development Bank was established with headquarters at Shangai, China in 2015.<\/li>\n
                                                • BRIC countries are in a leading position in setting the global agenda and have great influence in global governance.<\/li>\n<\/ul>\n

                                                  XI. 5 Mark Questions<\/span>
                                                  \nQuestion 1.
                                                  \nExplain the functions of IMF.
                                                  \nAnswer:
                                                  \n1. Bringing stability to the exchange rate:<\/p>\n

                                                    \n
                                                  • The IMF is maintaining exchange rate stability.<\/li>\n
                                                  • Emphasizes devaluation criteria.<\/li>\n
                                                  • Restricting members to go in for multiple exchange fates.<\/li>\n<\/ul>\n

                                                    2. Correcting BOP disequilibrium:
                                                    \nIMF helps in correcting short period disequilibrium in-the balance of payments of its member countries.<\/p>\n

                                                    3. Determining par values:<\/p>\n

                                                      \n
                                                    • IMF enforces the system of determination of par value of the currencies of the member countries.<\/li>\n
                                                    • IMF ensures smooth working of the international monetary system in favour of some developing countries.<\/li>\n<\/ul>\n

                                                      4. Balancing demand and supply of currencies:
                                                      \nThe Fund can declare a currency as scarce currency which is in great demand and can increase its supply by borrowing it from the country concerned or by purchasing the same currency in exchange for gold.<\/p>\n

                                                      5. Reducing trade restrictions:
                                                      \nThe Fund also aims at reducing tariffs and other trade barriers imposed by the member countries with the purpose of removing restrictions on remit\u00actance of funds or to avoid discriminating practices.<\/p>\n

                                                      6. Providing credit facilities:
                                                      \nIMF is providing credit facilities which include basic credit facility, extended fund facility for a period of three years, compensatory financing facility, and structural adjustment facility.<\/p>\n

                                                      \"Samacheer<\/p>\n","protected":false},"excerpt":{"rendered":"

                                                      Tamilnadu State Board New Syllabus Samacheer Kalvi 12th Economics Guide Pdf Chapter 8 International Economic Organisations Text Book Back Questions and Answers, Notes. Tamilnadu Samacheer Kalvi 12th Economics Solutions Chapter 8 International Economic Organisations 12th Economics Guide International Economic Organisations Text Book Back Questions and Answers PART – A Multiple Choice questions Question 1. International …<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-32377","post","type-post","status-publish","format-standard","hentry","category-class-12"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/posts\/32377"}],"collection":[{"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/comments?post=32377"}],"version-history":[{"count":1,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/posts\/32377\/revisions"}],"predecessor-version":[{"id":41601,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/posts\/32377\/revisions\/41601"}],"wp:attachment":[{"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/media?parent=32377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/categories?post=32377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/samacheerkalvi.guide\/wp-json\/wp\/v2\/tags?post=32377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}