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Prelims-IAS – ECONOMICS MCQ-37

1.. Consider the following statements about the Geographical Indication (GI) in Indian context:

  1. It is an assurance of quality and distinctiveness which is essentially attributable to the goods of its origin in that defined geographical locality, region or country.
  2. Geographical Indication status cannot be given for industrial goods.
  3. Geographical Indication guidelines are governed currently by TRIPS and WIPO provisions, as India does not have its own statutory Act governing the same.
  4. It adds to the income of local communities

Select the correct answer using the code given below.

(a)  1 and 4 only

(b)  1, 2 and 4 only
(c)  1, 3 and 4 only
(d)  2, 3 and 4

2.. In order to comply with TRIPS Agreement, India enacted the Geographical Indications off Goods (Registration and Protection) Act, 1999. The difference/differences between a “Trade Mark” and a Geographical Indication is/are

  1. A Trade Mark is an individual or a company”s right whereas a Geographical Indication is a community”s right.
  2. A Trade Mark can be licensed whereas a Geographical Indication cannot be licensed.
  3. A Trade Mark is assigned to the manufactured goods whereas the Geographical Indication is assigned to the agricultural goods/products and handicrafts only.

Which of the statements given above is/are correct?

(a)  1 only

(b)  1 and 2 only
(c)  2 and 3 only
(d)  1, 2 and 3

3..Consider the following statements:

  1. The World Intellectual Property Organization (WIPO) is the specialized agency of the United Nations to promote the protection of intellectual property.
  2. In India, Department of Industrial Policy and Promotion is concerned with legislation related to Patents, Trade Marks, Designs and Geographical Indications.
  3. Compulsory Licensing is a safeguard provided in the TRIPS agreement which allows companies to bypass licensing and other legislative requirements.

Which of the statement(s) given above is/are incorrect?
(a) 2 only
(b) 3 only

(c) 2 and 3 only
(d) 1 and 3 only

4.. With regard to WTO and its functioning, consider the following statements:

  1. Most Favored Nation (MFN) status to a country by another country ensures preferential treatment, lower tariffs and removal of other trade barriers between the two member countries.
  2. Dispute settlement process in WTO is rule based and transparent and ensures “compliance of verdict” on member countries.
  3. Special Safeguard Mechanism (SSM) is a tool for protecting interest of farmers and poor from volatility of international trade in agricultural commodities.

Which of the statements given above is/are incorrect?
(a) 1 only
(b) 1 and 3 only

(c) 1 and 2 only
(d) 2 and 3 only

5..Which one of the following issues the “Global Economic Prospects” report periodically?

(a)  The Asian Development Bank
(b)  The European Bank for Reconstruction and Development
(c)  The US Federal Reserve Bank
(d)  The World Bank

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