17-4 vocabulary jw
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| a specific region in which trade between nations takes place without protective tariffs. | free-trade zone
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| an agreement that abolishes trade barriers among its members and establishes uniform tariffs for non-members. | Customs union
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| __________ is an economic and political union of European nations established in 1993. | European Union
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| The currency of the EU. | Euro
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| The North American Free Trade Agreement, is designed to ensure trade without barriers between Canada, Mexico and the U.S. | NAFTA
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| Organization of Petroleum Exporting Countries | OPEC
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| A group of producers that regulates the production, pricing, and marketing of a product. | Cartel
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| A group of nations that adhere to the policies of the General Agreement on Tariffs and Trade. | World Trade Organization (WTO)
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