MERCOSUR Is the Third-Largest Trading Block Behind NAFTA and the EU

question 26

True/False

MERCOSUR is the third-largest trading block behind NAFTA and the EU.

---

Definitions:

Industrially Advanced Countries

Nations with highly developed economies, significant industrial output, and advanced technological infrastructure.

Population Growth Rates

The rate at which the number of individuals in a population increases in a given time period as a result of birth rate, death rate, and net migration.

Industrialization

The process of transforming economies from primarily agricultural to one based on the manufacturing of goods, typically leading to economic growth and development.

Capital Resources

Assets such as machinery, buildings, and equipment used to produce goods and services.