ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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The European Union
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The Europe Coal and Steel Community
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The Bretton Woods Agreement
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None of the above
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Detailed explanation-1: -The eurozone is a group composed of the 20 EU member states that have fully implemented the economic and monetary union and use the euro currency. Through the Common Foreign and Security Policy, the union has developed a role in external relations and defence.
Detailed explanation-2: -The EU is the world’s largest trading bloc. The EU is the world’s largest trader of manufactured goods and services.
Detailed explanation-3: -The EU’s members are Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, and Sweden.
Detailed explanation-4: -The EU negotiates trade agreements on behalf of the member states – including Ireland. These agreements deal with preferential duty rates on the shipment of goods between the EU and countries around the world. They have also evolved to cover a wider range of areas to facilitate trade.
Detailed explanation-5: -EU – The European Union. EFTA – European Free Trade Association with member countries Iceland, Liechtenstein, Norway and Switzerland. EEA – The European Economic Area EU members plus the three EFTA states of Iceland, Norway and Liechtenstein. More items