Question

Match each scenario with a concept related to the regulation of international trade

Answer 1

Let's match the international trade organizations with their functions

• APEC (Asia-Pacific Economic Cooperation) - economic forum for Pacific Rim economies. It is a forum constituted by goverments of 21 Pacific Rim economies (countries in the Pacific rim and the islands) and it aims to promote free trade approaches throughout the mentioned region.

• OPEC (Organization of the Petroleum Exporting Countries) - controls most of the world's crude oil and natural gas resources. It is one of the largest oligopolies in the world, constituted by the countries that had oil and gas reserves in their territories. These countries act as a group so that their joint market power is greater and allowes them to exercise great influence over the world price for oil.
• World Bank - finances projects in middle-income nations. It is an international financial institution, with was created after WWII, and which provides finance to countries all over the world for capital projects. Its main goal is achieving a global poverty reduction.

Answer 2

finances projects in  

middle-income nations- world bank

economic forum for

Pacific Rim economies-apec

controls most of the

world’s crude oil and

natural gas reserves- opec