Podcast
Questions and Answers
Why were free trade zones created in China?
Why were free trade zones created in China?
- To attract investments by foreign countries (correct)
- To control imports and exports
- To import technology more easily
- To avoid governmental rules and conditions
According to this quotation, what did President Ronald Reagan believe about economic growth?
According to this quotation, what did President Ronald Reagan believe about economic growth?
- Increased trade barriers would help the economy.
- Increased fair trade would help the economy. (correct)
- Trade barriers would help make trade more fair.
- Free trade associations would limit competition.
What can be a result of free trade? (Select all that apply)
What can be a result of free trade? (Select all that apply)
- Lower economic growth
- Decreased production
- Trade imbalances (correct)
- Increased pollution (correct)
- Exploitation of workers (correct)
- New opportunities (correct)
One primary purpose of the European Union is to:
One primary purpose of the European Union is to:
Trade agreements are helpful because they allow countries to:
Trade agreements are helpful because they allow countries to:
Which trade organization is responsible for 90% of the world's trade?
Which trade organization is responsible for 90% of the world's trade?
How do trade agreements of international organizations affect trade?
How do trade agreements of international organizations affect trade?
What is one stated purpose of the World Trade Organization?
What is one stated purpose of the World Trade Organization?
How can a nation benefit from effectively exporting its goods?
How can a nation benefit from effectively exporting its goods?
Which best describes ASEAN?
Which best describes ASEAN?
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Study Notes
Trade Agreements Overview
- Free trade zones in China were established to attract foreign investments.
- President Ronald Reagan advocated for fostering two-way trade, believing that increased fair trade would enhance economic growth.
Effects of Free Trade
- Possible outcomes of free trade include:
- Trade imbalances
- Increased pollution
- Exploitation of workers
- Creation of new opportunities
European Union and Trade
- A primary aim of the European Union is to create a common market among member states.
Benefits of Trade Agreements
- Trade agreements facilitate the exchange of necessary goods between countries.
- The World Trade Organization (WTO) oversees approximately 90% of global trade.
Impact of International Trade Agreements
- International trade agreements encourage countries to provide open access and enhance trade opportunities.
World Trade Organization (WTO)
- One of the WTO's key roles is to monitor the trade policies of various countries.
Economic Benefits of Exporting
- Effective exporting allows businesses in a nation to invest in future growth.
ASEAN Overview
- ASEAN is a regional organization focused on promoting economic growth within Southeast Asia.
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