POST COLD WAR WORLD
INTEGRATION OF EUROPE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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stock market
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common market
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supranational organization
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embargo
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Detailed explanation-1: -A free trade area is formed by a group of like-minded countries that agree to reduce trade barriers, such as tariffs and quotas, among others. It encourages international trade among the member countries.
Detailed explanation-2: -In a common market, countries also allow free trade and free movement of labor and capital among the members of the group. The trade arrangement is aimed at providing improved economic benefits to all the members of the common market.
Detailed explanation-3: -A Common Market is an agreement between two or more countries removing all trade barriers between themselves, establishing common tariff and non-tariff barriers for importers, and also allowing for the free movement of labour, capital and services between themselves.
Detailed explanation-4: -On March 25, 1957, France, West Germany, Italy, the Netherlands, Belgium and Luxembourg sign a treaty in Rome establishing the European Economic Community (EEC), also known as the Common Market.