Economics Principles and Practices
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Chapter 17: International Trade
"The World Trade Organization"

Introduction
You already know that international trade is important to all nations, even a country as large as the United States. Most of the products exchanged are goods, although a growing number of services, such as insurance and banking, are also bought and sold. Nations trade for the same reasons that individuals do--they trade because they believe that the products they receive are worth the products they give up. In addition, because nations are free to trade, they must believe that they are better off with trade than without it. One important organization that aids in connecting countries of the world is the World Trade Organization (WTO). In this activity, you will learn more about this organization and its role in our global economy.

Destination Title: The World Trade Organization

Note: Clicking on the link above will launch a new browser window.
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Directions
Start at the World Trade Organization Web site.

  • Click on "What is the WTO?" link at the right corner of your computer screen.
  • Download the PDF version and print. Or browse the html version online.
  • Read the sections and answer the following questions.

1. Where is the WTO located and when was it established?


2. What are the functions of the WTO?


3. Identify ten member countries of the WTO. How many members are there in all?


4. Return to the "What is the WTO?" page and then click on the "10 Benefits Of The WTO Trading System" page. Describe 5 of these benefits.


 


 
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