In 1967, Several Asian Countries Banded Together to Reduce the Trade

question 81

Multiple Choice

In 1967, several Asian countries banded together to reduce the trade barriers between them and encourage trading among themselves. This is known as

• A) a GATT.
• B) the European Union.
• C) the Association of Southeast Asian Nations.
• D) a multinational.
• E) an orderly marketing agreement.

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Definitions:

Consumerism

The preoccupation with and an inclination towards the buying of consumer goods.

Economic Prosperity

A state of flourishing financial health and growth, marked by a high level of income, low unemployment, and sustainable development.

1920s

A decade marked by significant cultural, economic, and political changes worldwide, known for economic prosperity, the Prohibition era, and the Jazz Age in the United States.

1950s

A decade marked by post-World War II recovery, significant cultural shifts, economic prosperity in the West, and the heightening of the Cold War.