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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they are more likely to share shipping and ports
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they are more likely to wage a war
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they are less likely to wage a war
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they develop common interest with other countries
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Detailed explanation-1: -Economic interdependence creates a global market where goods, products, and jobs can flow freely across borders. This increased cross-border interaction promotes international relations and an efficient trading system among economies.
Detailed explanation-2: -Countries trade with each other when, on their own, they do not have the resources, or capacity to satisfy their own needs and wants. By developing and exploiting their domestic scarce resources, countries can produce a surplus, and trade this for the resources they need.
Detailed explanation-3: -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.
Detailed explanation-4: -Globalization allows businesses to increase jobs and economic opportunities in developing countries, where the cost of labor is often cheaper.