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17-4 vocabulary jw

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Answer
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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