World Trade Organization is the only global international organization dealing with the rules of trade between nations. Which of the following statements support this?
Statement I: At its heart are the WTO agreements, negotiated and signed by the bulk of the world's trading nations and ratified in their parliaments.
Statement II: The goal is to ensure that trade flows as smoothly, predictably and freely as possible.

Which of the legislation do not from part of the legal environment of business in India?

A. The Drugs and Cosmetics Act, 1940

B. The prevention of Food Adulteration Act, 1954

C. The Monopolies and Restrictive Trade Practices Act, 1969

D. Both B and C

Consider the following statements. Which of these statements is/are true?

A. Socialism is compatible with democracy and liberty, whereas Communism involves creating an 'equal society' through an authoritarian state

B. Totalitarianism is a form of government which involves complete submission of people to the government. The State recognizes no limits to its authority and strives to control every aspect of public and private life wherever feasible

C. India differed from core socialism as it went for a mixed economy rather than complete government control

D. All of the above statements are true

"Repo Rate" refers to the rate at which

A. RBI borrows short-term money from the market

B. Banks keeps the money with RBI

C. Banks take money from RBI after offering some securities

D. Forex is purchased by RBI

Which of the following regional integration is similar to customs union but include the free movement of factors of production as well as trade?

A. Preferential Trade Area

B. Custom Unions

C. Economic Union

D. Common Market