1-3-3 The World's Economies Vocabulary

3. Sector The sector that provides services.
5. Group of European countries that operate under one economic unit and one currency—the euro.
8. Group of South American counries that promote free trade, economic development, and globalization.
9. Group of countries in Southeast Asia that promote economic, cultural, and political development.
10. Economy Parts of the economy may be privately owned, parts may be owned by the government.
12. Economy The means of production are privately owned.
14. When one country buys a product from the exporting country.
15. Agreement among United States, five developing Central American countries, and the Dominican Republic that promotes free trade.
19. Resources Resources that cannot be totally replaced.
21. Encourages free trade among the United States, Canada, and Mexico.
22. Bank The organization that provides financing, advice, and research to developing nations to help them grow their economies.

1. Trade When a group of countries decide to set little or no tariffs or quotas when trading among themselves.
2. Sector The sector that produces raw materials and basic goods.
4. A limit on the amount of one particular good that can be imported.
6. The organization that monitors economic development and lends money to nations in need and provides training and technical help.
7. Economy Resources are mainly distributed through families.
11. Sector The sector that makes finished goods.
13. Economy Means of production are publicly owned, and production and distribution are controlled by a central governing authority.
16. The organization that help regulate trade among nations.
17. Extra tax added to the cost of importing products.
18. Resources Resources that can totally be replaced or are always available naturally.
20. When one country sends their product to another country.