Question

Since the middle of the 20th century, the international global business system has been shaped by global institutions. Countries have established these institutions to address the global issues that span their borders. The functions of these organizations have been established in international treaties. Intematic businesses need to be aware of the functions of these organizations as they can have a profound impact on trade and commerce. It is critical for businesses to understand which organizations do what. It is also extremely useful to understand when these organizations were created since each emerged in response to changes, crises, or developments in the global business system. Drag the organization to the matching description.

Answer 1

Missing Part of Question:

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Answer:

In the order of the functions:

1. Bretton Woods Institutions

2. UN

3. GATT

4. WTO

5. GTO or G20

Explanation:

1. The Bretton Woods Institutions are the World Bank and the International Monetary Fund (IMF).

2. The United Nations is an intergovernmental organization with an objective of maintaining international peace and security.

3. The General Agreement on Tariffs and Trade (GATT) is a treaty between many countries. Its aim is to promote international trade by reducing or eliminating trade barriers like quotas or tariffs.

4. The World Trade Organization is also an intergovernmental organization. Its function is the regulation of international trade among nations.

5. The G20 (i.e. The Group of 20) is an international forum for the governments and central bank governors consisting of 19 countries and the European Union (EU). It focuses on the promotion of international financial stability.