Complete the following using the terms listed below.
-Countries establish a ______ where they can trade among themselves without trade barriers.
A)offshoring
B)balance of trade
C)joint venture
D)dumping
E)imports
F)tariff
G)International Monetary Fund
H)World Trade Organization
I)free trade area
J)devaluation
K)exchange rate
L)absolute advantage
M)global strategy
N)quota
O)multidomestic strategy
P)balance of payments
Q)Comparative advantage

Question

Quizplus · Accepted Answer

A free trade area is a region where countries agree to eliminate trade barriers such as tariffs, quotas, and other restrictions on trade. This allows for easier movement of goods between member countries.

Note: Some of the other terms listed are related to international trade, but do not specifically refer to the establishment of a trade agreement without barriers.

Complete the Following Using the Terms Listed Below