Which of the Following Is an Example of a Free

question 106

Multiple Choice

Which of the following is an example of a free trade area?

• A) Canada,formed in 1967.
• B) The North American Free Trade Agreement,formed in 1994.
• C) Mercosur,formed in 1991.
• D) The European Economic Community,formed in 1957.
• E) The European Union,formed in 1993.

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Definitions:

Established Presence

A term indicating that a company or brand has a recognized and sustained position within a market or industry.

Countertrade

A method of trade where goods and services are exchanged for other goods and services instead of for money, often used in international transactions.

Civilian Procurement

The process by which governmental bodies or agencies purchase goods and services for non-military use from the private sector.

U.S. Firms

Companies or businesses that are headquartered, registered, or primarily operate in the United States.