GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Members do away with duties and other trade barriers-they allow companies to invest freely in each member’s country *ex. EU (European Union)
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Free-trade zones
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Free-trade agreements
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non-tariff alliances
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Common markets
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Explanation:
Detailed explanation-1: -The EU is the world’s largest trading bloc. The EU is the world’s largest trader of manufactured goods and services. The EU ranks first in both inbound and outbound international investments. The EU is the top trading partner for 80 countries.
Detailed explanation-2: -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.
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