Quiz on Global free trade agreements:
What is a free trade agreement?
(a) An agreement that controls trade between countries.
(b) An agreement that promotes protectionism and trade barriers.
(c) An agreement that eliminates or reduces trade barriers between countries.
Which of the following is a potential advantage of free trade agreements (FTA)?
(a) Increased competition leading to lower prices for consumers.
(b) Protection of domestic industries and markets.
(c) Limiting access to foreign markets for exports.
Which region of the world has the highest number of FTA?
(a) Europe
(b) North America
(c) Asia
(d) Africa
Which region does the European Union have the largest free trade agreement with?
(a) North America
(b) Asia-Pacific
(c) Latin America
(d) Africa
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Which of the following is an example of a prominent FTA?
(a) WTO
(b) OPEC
(c) European Union
(d) United Nations
Which agreement established the largest free trade area in terms of the number of participating countries in Africa?
(a) East African Community
(b) African Union
(c) Southern African Development Community
(d) African Continental Free Trade Area
Which FTA was formed among the United States, Canada, and Mexico in 1994?
(a) USCM Free Trade Area
(b) Mercosur
(c) Transatlantic Trade and Investment Partnership
(d) North American Free Trade Agreement
Which countries were part of the original TPP agreement?
(a) United States, China, India
(b) Japan, Australia, Mexico
(c) United Kingdom, Germany, France
(d) Canada, Brazil, Russia
Which FTA established a partnership between the United States and 11 other Pacific countries?
(a) Transpacific Trade and Investment Partnership
(b) Central America Free Trade Agreement
(c) Trans-Pacific Partnership
(d) United States-Korea Free Trade Agreement
What are some potential benefits of free trade agreements?
(a) Increased employment opportunities and domestic industries protection.
(b) Higher consumer prices and limited product choices.
(c) Expanded market access and increased economic growth.
(d) Decreased competition and restricted foreign investment.
Which was the first modern FTA?
(a) North American Free Trade Agreement
(b) European Union
(c) Trans-Pacific Partnership
(d) General Agreement on Tariffs and Trade
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Which country is not a member of the United States’ FTA?
(a) Canada
(b) Mexico
(c) China
(d) South Korea
Which agreement established a free trade area between the United Kingdom and the European Union?
(a) Comprehensive and Progressive Agreement for Europe
(b) UK-EU Trade and Investment Partnership
(c) European Economic Area
(d) European Union-United Kingdom Trade and Cooperation Agreement
How many member countries are part of the European Union’s Single Market?
(a) 12
(b) 20
(c) 27
(d) 34
How many countries are part of the Association of Southeast Asian Nations (ASEAN)?
(a) 5
(b) 10
(c) 15
(d) 20
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Which FTA was signed between the European Union and Canada?
(a) Trans-Pacific Partnership
(b) European Economic Area
(c) Comprehensive and Progressive Agreement for Trans-Pacific Partnership
(d) Comprehensive Economic and Trade Agreement
Which countries are part of the European Economic Area (EEA)?
(a) All EU member countries
(b) EU member countries plus Switzerland
(c) EU member countries plus Iceland, Liechtenstein, and Norway
(d) EU member countries plus the United Kingdom
When was the AfCFTA officially launched?
(a) 2002
(b) 2013
(c) 2018
(d) 2021
Which agreement is the largest free trade area in terms of participating countries in Asia?
(a) Trans-Pacific Partnership
(b) ASEAN Free Trade Area
(c) Comprehensive and Progressive Agreement for Trans-Pacific Partnership
(d) Regional Comprehensive Economic Partnership
How many member countries are part of the AfCFTA?
(a) 15
(b) 27
(c) 54
(d) 70
Which country is not a member of the CPTPP?
(a) Japan
(b) Canada
(c) Australia
(d) China
