Unit 3: Trade Organizations and Social Responsibility
Chapter 5
UNIT 3: CHAPTER 5
International Trade Agreements and Organizations
Define the following key terms:
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Trade Agreement
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North American Free Trade Agreement (NAFTA)
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European Union (EU)
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Euro
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Trade Organizations
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World Trade Organization (WTO)
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Asia-Pacific Economic Co-operative (APEC)
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Group of Eight (G8)
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Group of Twenty (G20)
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Organization for Economic Co-operation and Development (OECD)
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World Bank
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International Monetary Fund (IMF)
Unit 3: Trade Organizations and Social Responsibility
Chapter 5
Questions:
1. Explain three advantages and disadvantages of NAFTA.
2. What is the purpose of the European Union?
3. Give example of advantages and disadvantages of the euro.
4. What are the advantages and criticisms of the WTO? How does the WTO affect
Canada?
5. How has APEC benefitted its members?
6. What is the purpose of the G8? Name the countries involved in the G8.
7. What is the purpose of the G20? Name 10 countries that are part of the G20
8. What is the World Bank? What two institutions make up the World Bank?
9. Describe the purpose of the IMF.
10. What is the purpose of the United Nations?
Unit 3: Trade Organizations and Social Responsibility
Chapter 5
CHAPTER 5 CLASS DISCUSSION QUESTIONS
Think Ahead!
Discussion Questions:
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Is NAFTA beneficial for Canadians?
Is the European Union in trouble? In hindsight, was the formation of the EU
beneficial for its members?
How involved should the World Bank be in affecting the economic stability of
countries?