IGCSE Development Studies: Specimen Questions with Answers 15 - 16 of 98

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Question 15

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Give any two functions World Bank.

Explanation

The Bretton Woods conference was held from 1st to 22nd of July 1994. It contained 730 delegates from all 44 Allied nations in Bretton Woods to regulate the international monetary and financial order after the conclusion of World War II. It led to the creations of two major institutions World Bank and IMF.

The functions of World Bank are:

  • Granting reconstruction loans to war devastated countries.
  • Granting developmental loans to underdeveloped countries.
  • Providing loan to governments for agriculture, irrigation, power, transport, water supply, education, health etc.
  • Providing loans to private concerns for specified projects.
  • Promoting foreign investment by guaranteeing loans provided by other organizations

Passage

Forms of Free Trade

Question 16 (1 of 7 Based on Passage)

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State the pros of NAFTA.

Explanation

The Pros of NAFTA Are as Follows

  • Free trade increases sales and profit for Mexico, Canada, and the U. S. A, thus strengthening their economies.
  • Lack of tariffs has allowed Mexico to sell its goods in the USA and Canada at lower prices.
  • This makes Mexican products more competitive in these markets and increases Mexico profits as it tries to develop its economy.
  • Free trade is an opportunity for the US to provide financial help to Mexico by making jobs available in factories located there.

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