Consider the following statements about World Steel Association 1 One of the objective to Promote ma...........

Economic Affairs Industrial Policy and Industrial Growth

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Consider the following statements about World Steel Association:

1..One of the objective to Promote market competition that is free of government interventions preventing fair trade.

2.It is an inter-governmental organization of all developed countries producing steel and steel products.

Which of the statements given above is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Correct: One of the objectives of the World Steel Association is indeed to promote market competition that is free of unfair government interventions. This aligns with its role in fostering a global steel industry that operates in a fair and competitive market.

Incorrect: The World Steel Association is not an inter-governmental organization limited to developed countries. It is an international trade body that includes major steel producers from both developed and developing countries. Its membership is not restricted to governments but includes private and public companies in the steel industry.