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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a supranational cooperation
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centrifugal force
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a tariff
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A group of countries that acts as a single market, without trade barriers between member countries
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Detailed explanation-1: -A free trade area is a region in which a number of countries have signed a free trade agreement and maintain little or no barriers to trade in the form of tariffs or quotas among one another.
Detailed explanation-2: -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.
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: -The European Single Market, originally known as the Common Market, has its foundations in the former European Economic Community (EEC) established by the Treaty of Rome in 1957. The first significant change to the original treaty was made in 1986 with the Single European Act (SEA).