Practice Quiz

Paralegal Exam Prep

Category - Legal Envrmt

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A geographic area that has minimal trade barriers such as tariffs and administrative regulations is known as a:
  1. Community trade zone
  2. Universal trade zone
  3. Tariff-free trade zone
  4. Free trade zone
  5. National trade zone
Explanation
Answer: D. A geographic area that has minimal trade barriers such as tariffs and administrative regulations is known as a free trade zone. Free trade zones make it easier for businesses within the geographic area to conduct business and make larger profits. The North American Free Trade Agreement creates a free trade zone between the United States, Canada, and Mexico.
Category: Legal Environment
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