Complete the following using the terms listed.
-Countries establish a(n)______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 business strategy
N)Quota
O)multidomestic strategy
P)balance of payments
Q)comparative advantage

Question

Quizplus · Accepted Answer

Free trade area is a regional or intergovernmental agreement among member countries to eliminate trade barriers, such as tariffs and quotas, on goods traded among themselves.

Alternatively, answer H could also be correct, as the World Trade Organization (WTO) promotes free trade and provides a platform for member countries to negotiate and enforce trade agreements. However, the WTO encompasses more than just free trade areas.

Complete the Following Using the Terms Listed