Question

You have seen in Chapter 2, that the agriculture sector provides the bulk of employment and a significant portion of the GDP in India. Compare this to a developed country such as the US with the share of agriculture in GDP at 1% and its share in total employment a tiny 0.5%! And yet this very small percentage of people who are engaged in agriculture in the US receive massive sums of money from the US government for production and for exports to other countries. Due to this massive money that they receive, US farmers can sell the farm products at abnormally low prices. The surplus farm products are sold in other country markets at low prices, adversely affecting farmers in these countries. Developing countries are, therefore, asking the
developed country governments, “We have reduced trade barriers as per WTO rules. But you have ignored the rules of WTO and have continued to pay your farmers vast sums of money. You have asked our governments to stop supporting our farmers, but you are doing so yourselves. Is this free and fair trade?”

Answer the following MCQs by choosing the most appropriate option.

25.1. The passage given above relates to which of the following options? [1]
1.Unfair attitude of WTO towards developing nations.
2. Farming is a capital intensive sector.
3.Free and fair trade practices.
4.Farming cannot be practiced without subsidy.

25.2. How does the excess money received by the US farmers from its government, adversely affect the farmers in India? [1]
1.Indian farmers are not able to compete with the US farmers in the international market.
2.US farmers grow good quality grains than Indian farmers.
3.US farmers can easily transport their grains in the international market.
4.Indian farmers remain poor.

25.3. The question raised by the developing countries targets upon - [1]
1.Unfair trade practice by the developed countries.
2.Ignoring WTO rules by retaining trade barriers.
3.Not maintain the similar parameters in supporting the farmers.
4.All of the above.

25.4. How can the developing countries fight against the domination of the developed countries? [1]
1.Give up the membership of WTO and form a new organisation.
2.Aligning with countries having similar interest and putting their demands in the WTO.
3.Stop trading with the developed nations.
4.Grow the products that the developed nations don’t produce.​


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Answer 1

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