IGCSE Development Studies: Specimen Questions with Answers 15 - 16 of 98
Question 15
Explanation
The Bretton Woods conference was held from 1st to 22nd of July 1,994. 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
Question 16 (1 of 7 Based on Passage)
Explanation
S. No | Free Trade | Custom Union |
1. | The free trade area economic integration is the is the least restrictive among the countries. | Members of custom union dismantle barriers to trade in goods and services among themselves. |
2. | In a free trade area, all the barriers to trade among member countries are removed. | A custom union establishes a common trade policy with respect to non-members |
3. | No external tariff | Common external tariff |
📚 Choose Subject
- Accounting (0452)
- Biology (0610)
- Business Studies (0450)
- Chemistry (US-0439)
- Chemistry (0620)
- Computer Science (0478)
- Development Studies (0453)
- Economics (0455)
- English (First Language) (UK-0522)
- Hindi (Second Language) (0549)
- History (0470)
- Information & Communication Technology (0620)
- Mathematics (0580)
- Physical Education (0413)
- Physics (0625)
- Sociology (0495)