Certified Supply Chain Professional (CSCP) Practice Exam

The OECD is known for what primary function?

1. Developing global marketing strategies

2. Promoting policies that improve economic and social well-being

3. Standardizing manufacturing processes

4. Regulating international trade agreements

The correct answer is: Promoting policies that improve economic and social well-being

The Organisation for Economic Co-operation and Development (OECD) primarily functions to promote policies that improve economic and social well-being. Established in 1961, the OECD provides a platform where member countries can work together to share experiences and seek solutions to common problems, focusing on enhancing economic growth, stability, and social development. Its work involves various areas such as economic policy, education, health, and environmental issues, all aimed at fostering sustainable development and improving the quality of life for people across the globe. This aligns with the OECD's mission to provide evidence-based policy analysis and recommendations, which help governments and policymakers implement reforms that lead to better socio-economic outcomes. By offering a comprehensive framework for cooperation and dialogue among member nations, the OECD plays a central role in shaping beneficial economic policies worldwide.