Which of the following is an example of a free trade area?
A) NAFTA
B) APEC
C) SACU
D) Group of Five

Question

Quizplus · Accepted Answer

NAFTA (North American Free Trade Agreement) is an example of a free trade area, as it eliminates tariffs and other trade barriers between the United States, Canada, and Mexico.

Answer: B
 APEC (Asia-Pacific Economic Cooperation) is also an example of a free trade area, comprising 21 member economies with the goal of promoting free trade and economic cooperation in the Asia-Pacific region.

Answer: C
 SACU (Southern African Customs Union) is not a free trade area, as it is a customs union that imposes common external tariffs on goods imported from outside the union.

Answer: D
 Group of Five (G5) is not a free trade area, as it is a group of five major industrialized nations (United States, Japan, Germany, France, and the United Kingdom) that discuss economic and financial issues.

Which of the Following Is an Example of a Free