EXAMPLE ECONOMIC INTEGRATION

Which of the following is the advantage of custom union?

• harmonized political system

• greater collective economic and political power in the world

• free movement of factors of production among member countries

• countries in customs union may enjoy stronger bargaining power

which of the following is INCORRECT about EUROPIAN UNION ( EU)?

• customs procedures and regulations have been eliminated

• tariff and non tariff barrier have been eliminated for trade in product and services

• barrier to cross national movement of factors of production have been increased

• technical standard ,regulations and enforcement procedures related to commercial activities are being harmonized

one of the objective of___________ is to strengthen the economics and trade regulation among its 14 member states which includes jamaica,guyana,grenade and barbados

• ANDEAN COMMON MARKET( ANCOM)

• CARRIBEAN COMMON MARKET (CARICOM)

• CENTRAL AMERICAN COMMON MARKET ( CACM)

• NORTH AMERICA FREE TRADE AGREEMENT ( NAFTA)

In a _____________ member country agree to eliminate tariff and other trade barrier,however each member country is allowed to determine its own policies regarding non member countries.

This statement explain about :

• customs union

• political union

• free trade area

• common market

previously nation in latin america are encouraged free trade agreement as they was led by military dictators

• TRUE

• FALSE

The larger countries in the free trade area of america ( FTAA) had agreed to give smaller and less developed countries more time to reduce tariff as well as to open their economy to foriegn market

• TRUE

• FALSE

Which of the following is INCORRECT about Gulf cooperation council GCC?

• the citizen of the country are allowed to travel freely in GCC without Visas

• GCC was established due to the geographic proximity and general adoption of free trade economic policies among the member countries

• the primary purpose of GCC its formation was to cooperate with AFTA but its evolved to become as much as political entity as an economic one

• it allows the citizen of one member nation to own land,property and business in any other member nation without the need for local sponsors or partner

___________-aims to create the largest free trade are on the planet

• CACM

• FTAA

• CARICOM

• MERCOSUR