SSC
WORLD GEOGRAPHY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is an advantage of an economic union such as the European Union or NAFTA?
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Efficient industries allow for cheaper goods for most people
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Countries can protect their own industries through tariffs
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Countries can easily coordinate on trade policies between members
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All people from member nations benefit
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Explanation:
Detailed explanation-1: -The common things between European Union and NAFTA are that they both aim at reducing the barriers which exist between the two organizations and this is with the aim of promoting trade.
Detailed explanation-2: -Advantages of Economic Integration More specifically, economic integration typically leads to a reduction in the cost of trade, improved availability of goods and services and a wider selection of them, and gains in efficiency that lead to greater purchasing power.
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