Home › MCQs › General Knowledge › Question #4715
Back to Questions
General Knowledge QUESTION #4715
Question 1
Granting Most Favored Nation (MFN) status in trade implies which of the following?
  • Providing the same trade concessions given to all other partner nations without discrimination✔️
  • Trade conducted through commodity exchange rather than foreign exchange
  • Import and export payments made in local currencies only
  • Providing preferential tariff rates above standard rates
Correct Answer Explanation
MFN status means a country will receive the same trade treatment (tariffs, quotas, preferences) as the most favorably treated trading partner, ensuring non-discrimination in trade.