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State PCS PYQPrelims 2023

BPSC – Combined Competitive Examination · Question 112

Consider the following statements about 'Rules of Origin': 1. They are the criteria needed to determine the national source of a product. 2. They help customs know what regulations and fees apply to a product. 3. They are used for trade statistics. 4. They matter because duties and restrictions often depend on the source of imports. Which of the above statements are correct?

  1. Only 1 and 2
  2. Only 3 and 4
  3. Only 1, 3 and 4
  4. All of the above
Show answer & explanation

Answer: (D) All of the above

Explanation

Rules of origin decide a product's 'economic nationality' for tariffs, quotas, trade remedies and statistics.

  • (A) Incorrect

    Wrong: 3 and 4 are also correct.

  • (B) Incorrect

    Wrong: 1 and 2 are also correct.

  • (C) Incorrect

    Wrong: 2 is also correct.

  • (D) Correct

    Correct: all four reflect the WTO description of rules of origin.