ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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pay increased taxes
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pay no taxes or pay at a special rate
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wait a long time for goods to be processed
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develop disagreements which affect trade
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Detailed explanation-1: -Benefits of CARICOM The benefit of free trade areas is that they allow countries to cease competing with one another for market shares on certain products and instead allow them to focus on the products that they are most qualified to produce or resources that they alone possess.
Detailed explanation-2: -The CARICOM-Dominican Republic Free Trade Agreement– was signed on 22nd August 1998 and provisionally entered into force in December 2001.
Detailed explanation-3: -The Council for Trade and Economic Development (COTED) promotes trade and economic development of the Caribbean Community (CARICOM) and oversees the operations of the Single Market and Economy.
Detailed explanation-4: -To improve standards of living and work. The full employment of labour and other factors of production. Accelerated, coordinated and sustained economic development and convergence. Expansion of trade and economic relations with third States. Enhanced levels of international competitiveness. More items