Question

Question 46.
In the period after the Second World War
, which
of the following institutions governed trade
relations between states?

International Monetary Fund (IMF)

General Agreement on Trade and Tariffs (GATT)

World Trade Organisation (WTO)

Bretton Woods​

Answer 1

Answer:

gatt

Explanation:

general agreements on trade and tariffs later #Wto took over it

Answer 2

Option b is the correct answer.

General Agreement on Trade and Tariffs (GATT) governed trade relations between states in the period after the Second World War.

1. It governed trade relations from 1948 to 1994 until World Trade Organisation came into existence.
2. But it was only a provisional agreement which was required to be replace with a permanent institution to govern the world trade. Therefore, World Trade Organisation was formed.