Political & economic environment

Question

By what is the trade policy of EU-members primarily determined?

Answer 1

The Common Trade Policy of the European Union

Answer 2

Regional trading arrangements
Protectionism

Answer 3

Competition between imported and local products lowers prices and increases quality

Answer 4

Reducing barriers to trade between the member countries. .They merely remove tariffs on intrabloc trade in goods.

Answer 5

Free-trade bloc
Customs union
Common Market
Economic & monetary union

Answer 6

Efficient use of factors of production
Stimulation of competition
Prevention of trade wars
Promotion of trade and investment
Promotion of welfare

Answer 7

The EU is a common market. There is free traffic of goods, factors of production and services within the 27 EU countries. On all product originating in the EU, no import duties are levied.

Answer 8

Import duties
Turnover tax (VAT)
Excise duties
Preferential tariff measures

Answer 9

Customs formalities
Technical requirements
Administrative procedures
Quality requirements
Export restrictions
Subsidies

Answer 10

There is a ban on trading with a certain country for socio-political reasons (for example).

Answer 11

The international organization is aiming for cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace.

Answer 12

It strives to promote the liberalisation of world trade.

Answer 13

The International Monetary Fund is an association of 186 countries that encourage worldwide monetary collaboration. The Fund's most important objective is to ensure the stability of the international monetary and financial system. Further, it strives for free international trade, high employment, sustainable economic development and the reduction of world poverty.