ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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refusing to allow countries to trade with each other
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allowing England to become the richest European country
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lowering or eliminating barriers that slow down trade between countries
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Making taxes on imported goods higher and promoting economic independence
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Detailed explanation-1: -Lowering or eliminating barriers that slow down trade between countries. Explanation: Since 1957, the European Union has benefitted its inhabitants by working for concordance and achievement. It makes sure about our basic political, social and money related rights.
Detailed explanation-2: -Once the barriers to the flow of goods were eliminated, the European Union’s output significantly improved. The elimination of trade barriers promoted trade within the European Union, providing businesses with access to millions of potential customers from different nations.
Detailed explanation-3: -The euro has eliminated the costs of exchange rate fluctuations within the euro area. This protects consumers and businesses within the euro area from costly swings in currency markets, which, in some countries, used to undermine confidence, discourage investment and cause economic instability.
Detailed explanation-4: -The EU’s main economic engine is the single market. It enables most goods, services, money and people to move freely throughout most of the continent. It has certainly become much easier to move around Europe – all EU citizens have the right to study, work or retire in any EU country.
Detailed explanation-5: -The EU has strengthened economic governance, designed a system to safeguard financial stability in the euro area, improved Member States’ public finances and promoted reforms to encourage investment.