As a developing nation, India has relied on assistance for building roads, power plants, schools, and hospitals, In order to receive assistance, the government of India has lower trade barriers and fosters private business, Many high-tech start-ups and call centers are now located in India. This example illustrates the function of the
a. International Monetary Fund (IMF)
b. European Union (EU)
c. World Trade Organization (WTO)
d. World Bank
✨ Quizard's Answer
Asked by 1 other people
C
World Trade Organization
Explanation:
The example provided in the question illustrates the function of the World Trade Organization (WTO). The WTO is an international organization that deals with the global rules of trade between nations. It aims to ensure that trade flows as smoothly, predictably, and freely as possible.
In the given example, India has relied on assistance for building infrastructure such as roads, power plants, schools, and hospitals. To receive this assistance, the government of India has lowered trade barriers and fostered private business. This indicates that India is engaging in international trade and opening up its economy to foreign investment. Many high-tech start-ups and call centers being located in India further highlight the country's involvement in global trade and business.
The International Monetary Fund (IMF) is an organization that focuses on promoting global monetary cooperation, financial stability, and economic growth. The European Union (EU) is a political and economic union of European countries. While both the IMF and EU play important roles in international affairs, they are not directly related to the function described in the example.
The World Bank is an international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects. While the World Bank may be involved in providing assistance for infrastructure development, it is not specifically focused on trade-related functions.
Therefore, the correct answer is C. World Trade Organization (WTO).
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