Regional (weeks 1&2)

What is regional integration?

• the unification of a number of nation states into a larger whole.

• “to bring or come into equal membership”

• a  state which has achieved independence

Which of the following Caribbean countries are considered LDC's?

• Barbados

• Grenada

• St. Vincent and the Grenadines

• Bahamas

Answer explanation

LDC's- Less Developed Countries

Barbados and Bahamas are considered More Developed countries (MDC's)

The countries of the Caribbean trade with each other. This way of trading is described as

• international

• interregional

• Local

Which of the following countries does the letter A mark?

• Barbados

• Cuba

• Jamaica

• Guyana

The area marked X is known as the

• Caribbean Sea

• Gulf of Mexico

• Atlantic Ocean

Which of the following statement (s) most indicate why the Caribbean region should integrate?

• To bring about POLITICAL UNITY

• To bring CULTURAL UNITY

• To bring about FUNCTIONAL CO-OPERATION

• To bring about ECONOMIC UNITY

Which of the following factors promote regional integration?

• Globalisation

• Geographical location

• common social & economic issues

• West Indian Federation

• Common history and cultural herritage

A bilateral agreement can be described as a trade agreement among several countries.

• True

• False

What is the meaning of "trade liberalisation" ?

• the process by which countries all over the world are becoming connected or similar because large companies are doing business in many different countries

• reducing the limitations on trade that countries around the world have erected over a number of years (tariffs, duties, quotas, licenses)

• the process a government or central bank of a country uses to control the money supply and the cost of money or rate of interest to attain a set of objectives oriented towards the growth and stability of the economy

• measures employed by governments to stabilize the economy, specifically by adjusting the levels and allocations of government borrowing, taxes and expenditures

A multinational corporation is a corporation that has its facilities in other countries than its home country.

• True

• False