| A | B |
|---|
| Trade alliances | trade organizations created economic alliances in the 20th century to ease barriers to trade as nations became more interdependent |
| examples of trade alliances | NAFTA, OAS, EU, OPEC |
| EU | European Union; a 27 member confederation of countries that allowed people to move and trade in member countries as if it were their own; 16 of these countries shared the same money currency (the Euro) |
| NAFTA | North American Free Trade Agreement; Removing trade barriers among Mexico, Canada, and the United States |
| OPEC | Organization of the Petroleum Exporting Countries; controls the production and the price of oil and has great economic and political power in the world |
| OAS | Organization of American States; promotes social and economic development in the western hemisphere through cooperation |
| interdependence | when two or more people or groups are dependent on the same element |
| trade | an exchange of goods or service for commercial (money) purposes |
