Question

Use the drop-down menu to complete each statement

Answer 1

Answer:

Explanation:

The free trade agreement between the United States,   Canada, and Mexico is called the North American Free  Trade Agreement (NAFTA). The NAFTA was created to eliminate  tariff barriers to agricultural, manufacturing, and services;  to remove investment restrictions; and to protect the intellectual  property rights.  

The trade organization in Europe that uses the euro as   its main currency is the Eurozone, also called the Euro Area.  The Euro Area, is a monetary union of 19 states from the European  Union which have adopted the monetary currency "euro" and sole  legal tender.

The organization that is made up of most countries in   the world and helps keep trade running smoothly is the World Trade  Organization (WTO). The WTO, is an international organization of  164 members that deals with the rules of trade between nations. It  works to help international trade to flow smoothly, predictably, and  freely. It also, provides countries with constructive and fair outlet  for dealing with disputes over trade issues.

Answer 2

Answer:

NAFTA, European Union, WTO(World Trade Organisation)

Explanation:

NAFTA(North American Free Trade Agreement ) is the treaty signed by Canada, United States and Mexico. It came in to effect on January 1, 1994 and created a trilateral trade block.

The European Union is economic and political union of 28 European countries. The total population of Union is more than 12 million while the combined areas of the member countries is more that 4,000,000 square kilometres.

The World Trade Organisation was established in 1995 to regulate trade. The member countries of WTO make trade agreements. GATT (General Agreement on Tariffs and Trade) is one such agreement aimed to lowed the trade barriers in international trade.