Economic Cooperation Quiz

What is the primary purpose of the World Trade Organization (WTO)?

• To serve as a negotiating forum for member nations to dispute, discuss, and debate trade-related matters

• To develop friendly relations between nations

• To maintain international peace and security

• To foster international cooperation in solving economic, social, humanitarian, and cultural issues

What is the most advanced form of regional economic integration?

• Free Trade Area (FTA)

• Customs Union (CU)

• Economic Union (EU)

• Common Market (CM)

What is the goal of NAFTA and USMCA?

• To maintain international peace and security

• To promote economic, social, cultural, and technical cooperation

• To develop the economies of member countries in South America

• To encourage trade between Canada, the United States, and Mexico

What is the role of the United Nations (UN)?

• To maintain international peace and security

• To serve as a negotiating forum for member nations to dispute, discuss, and debate trade-related matters

• To develop friendly relations between nations

• To foster international cooperation in solving economic, social, humanitarian, and cultural issues

What is the main focus of ASEAN in Asia?

• Facilitating free and fair trade between member nations

• Promoting economic, social, cultural, and technical cooperation

• Developing the economies of member countries in South America

• Maintaining international peace and security

What is the main benefit of regional trade agreements for global businesses?

• Having the “rules” for their industry change as a result of new trade agreements

• Experiencing reduced barriers to entry

• Finding themselves outside of a new trading bloc

• Having more consistent criteria for investment and trade

What is the original goal of the United Nations (UN)?

• To maintain international peace and security

• To serve as a negotiating forum for member nations to dispute, discuss, and debate trade-related matters

• To develop friendly relations between nations

• To foster international cooperation in solving economic, social, humanitarian, and cultural issues

What is the main feature of an Economic Union (EU)?

• Maintaining its own independent trade policy with non-member countries

• Having a common currency, a common monetary policy, and a common fiscal policy

• Allowing the free movement of labor, capital, and businesses across borders

• Eliminating tariffs and other trade barriers on goods and services traded between member countries