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17-4 vocabulary jw

QuestionAnswer
a specific region in which trade between nations takes place without protective tariffs. free-trade zone
an agreement that abolishes trade barriers among its members and establishes uniform tariffs for non-members. Customs union
__________ is an economic and political union of European nations established in 1993. European Union
The currency of the EU. Euro
The North American Free Trade Agreement, is designed to ensure trade without barriers between Canada, Mexico and the U.S. NAFTA
Organization of Petroleum Exporting Countries OPEC
A group of producers that regulates the production, pricing, and marketing of a product. Cartel
A group of nations that adhere to the policies of the General Agreement on Tariffs and Trade. World Trade Organization (WTO)
Created by: joannw15