International TradePYQ - July 2021 (Inter)Question 176 of 20
All Questions

TRIPS is related to:

Options

AInvestment
BIntellectual Property Rights
CServices
DAgriculture
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Correct Answer

✅ Option b — Intellectual Property Rights

All Options:

  • AInvestment
  • BIntellectual Property Rights
  • CServices
  • DAgriculture

Detailed Solution & Explanation

To determine the correct answer, let's break down the concept of TRIPS. • The full form of TRIPS is Trade-Related Aspects of Intellectual Property Rights. • This implies that TRIPS is related to the protection and enforcement of intellectual property rights in a global trade context. • The World Trade Organization (WTO) established TRIPS to promote fair competition and prevent the theft of intellectual property. • The main goal of TRIPS is to ensure that intellectual property rights are protected and respected across international borders. The correct answer is related to Intellectual Property Rights because TRIPS agreements aim to standardize the protection of intellectual property worldwide. Some options are incorrect, such as Investment and Services, because while they may be related to international trade, they are not the primary focus of TRIPS. For example, Investment is related to the flow of capital across borders, but it is not directly related to the protection of intellectual property rights.

About This Chapter: International Trade

Paper

Paper 4: Business Economics

Weightage

10%

Key Topics

Theories, Trade Policy, Exchange Rates

This chapter explores trade between nations — why countries trade, the theories of Absolute and Comparative Advantage, Balance of Payments, Exchange Rate systems (Fixed vs Flexible), and India's trade policy including tariffs, quotas, and WTO rules.

View Official ICAI Syllabus

Exam Strategy Tip

Understand Comparative Advantage theory thoroughly — it's the foundation of international trade. Also focus on the Balance of Payments structure and what causes deficits.

More Questions from International Trade

Exchange rate determined by market forces is called:

Tariffs generally:

Balance of Trade refers to:

WTO was established in:

Devaluation of currency encourages:

Comparative Cost Advantage theory was given by:

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