SSC MTS EXAM

SSC

WORLD GEOGRAPHY

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The use of the Euro and the removal of trade barriers in the European Union have led to what?

A	high unemployment in non-EU countries
B	increased demand for agricultural products
C	A large united trade zone across Europe
D	a shift from manufacturing jobs to service industries

Explanation:

Detailed explanation-1: -The European Union is one of the most outward-oriented economies in the world. It is also the world’s largest single market area. Free trade among its members was one of the EU’s founding principles, and it is committed to opening up world trade as well.

Detailed explanation-2: -The European Union (EU) is a free trade zone that started with 15 member states in 2003, and now includes 27 member states in Europe. Between its member states, tariffs and import quotas were abolished. Member states also came to an agreement on common tariffs that would be applied to nations outside of the EU.

Detailed explanation-3: -As the largest trading bloc globally, the EU is the primary trading partner for more than 80 countries and is among the most open economies worldwide.

There is 1 question to complete.